Micron Technology, Inc. (NASDAQ:MU) shares tumbled 4.5% in extended trading Wednesday after the company posted fiscal fourth-quarter revenue that came in short of expectations.
The chipmaker posted an adjusted loss of $1.07 per share on revenue of $4.01 billion, compared to earnings of $1.45 per share on revenue of $6.44 billion in the year-ago quarter. Analysts had projected a loss of $1.11 per share on revenue of $3.69 billion.
Meanwhile, Meta Platforms Inc (NASDAQ:FB) unveiled the new Quest 3 mixed reality headset, Ray-Ban brand smart glasses and a series of AI chatbots on the first day of its Connect developer conference.
Elsewhere, Amazon.com Inc's (NASDAQ:AMZN) $4 billion acquisition of a minority stake in the artificial intelligence (AI) firm Anthropic is a telling sign of the ecommerce giant’s AI ambitions.