Micron shares fall as demand recovery 'off to slow start'

Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach/File Photo

(Reuters) -Micron Technology's first-quarter loss forecast has triggered concerns of a sluggish recovery in the memory chip maker's end-markets such as data centers, sending its shares down over 5% in early trading on Thursday.

The company on Wednesday forecast a bigger loss than analysts had expected and a return to positive gross margin in the second half of fiscal 2024, later than Wall Street expectations for the first half.