Dallas, Texas 07/10/2015 (Financialstrend) – Micron Technology, Inc. (NASDAQ:MU), one of the better known semiconductor stocks, has witnessed much share price decline in the past 30—day period. The weak performance of the stock was driven by the drastic decline in demand for the traditional computing devices, Personal computers.
The share prices of Micron Technology have dropped by nearly 31.10% in the past month as the company failed to match industry expectations for its just concluded quarterly earnings. The result of the purported weak performance report was a major drop in demand for the company’s stocks.
Micron Technology management explained that the company that the company results were impacted not only by the decline in demand in the PC market, but another of the key market segment it operates. The company saw a sequential drop of 10% in the demand for Dynamic Random Access Memory as well.
However, the strongest reason for decline in investor interest in Micron Technology, Inc. (NASDAQ:MU) was due to the guidance announced by the company for the ensuing quarter. The company reported that the slow pace of performance would carry over into the last quarter of 2015 as well. The ‘tepid’ revenue guidance for the fourth quarter was decisive in the steady decline of share prices of the chipmaker.
Lately, Micron Technology has introduce major changes in the constitution of its management as well. It now has a dedicated Chief Information Officer, with the appointment of Trevor Schulze, who formerly worked with Broadcom Corporation, now a part of the Avago Technologies Ltd since May of this year. His industry experience includes working at Advanced Micron Devices Inc as well as Cisco Systems.
Micron Technology, Inc. (NASDAQ:MU) first ever CIO is expected to drive the company into the latest industry trend to use ‘information.’ The company hopes to have more products in this segment to match the needs of diversified clientele in this segment.