Micron Technology disclosed in its after hours financial report on December 18th local time that due to weak demand for smartphones and personal computers, it is expected to generate revenue of approximately $7.9 billion for this quarter, while analysts' average estimate is $8.99 billion. The company expects earnings per share after excluding certain items to not exceed $1.53, far below the analyst estimate of $1.92. Its stock price plummeted by about 18% in after hours trading.