Micron's Memory Chip Collapse Signals a Deeper Downturn Ahead

Micron Technology reported Q4 revenue of $6.6 billion, down 23% from the prior quarter and 20% from last year. The chipmaker is cutting capital spending 30% to $8 billion and slowing factory output. Both prices and sales volumes fell together—a classic sign of oversupply. Management's moves suggest they expect demand to stay weak for months, not improve soon.