Thursday, June 30, 2022

Micron Forecasts Q4 Earnings Below Expectations, Raises Concern About Chip Down Cycle

Micron announced a significantly weaker than expected business outlook on Thursday. The company forecast adjusted revenue for the current quarter at $7.2 billion (nearly Rs. 56,800 crore), plus or minus $400 million (nearly Rs. 3,200 crore). This has raised concern that following nearly two years of strong demand, the industry was turning towards a down cycle.

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Tata AutoComp Systems to acquire 80% stake in Artifex

Tata AutoComp Systems Ltd will acquire an 80% stake in Artifex Interior Systems Ltd, part of the Jaguar Land Rover group. This move expands ...