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Micron Q4 sales slump amid weakened demand and forecasts dim FY23 Q1 outlook

Micron Technology announced record sales of US$30.8 billion for the entire fiscal 2022, which ended September 1, 2022. However, Q4 sales declined 23% quarter-on-quarter and 21% year-on-year to US$6.6 billion, due to a weakened near-term supply-demand environment.