Micron Technology Inc. CEO Sanjay Mehrotra discussed the company’s performance in an interview following a sharp 13% decline in shares after issuing weak second-quarter guidance, despite beating earnings expectations. For the latest quarter, Micron reported adjusted earnings per share of $1.79 and revenue of $8.71 billion. However, the company’s forecast for the second quarter fell short, with expected revenue of $7.9 billion and adjusted EPS of $1.43, compared to analysts’ predictions. Mehrotra noted growth opportunities in data centers and AI, emphasizing confidence in future growth despite short-term consumer market weaknesses. Year-to-date, Micron shares have risen 22%.
