Micron Stock Dips 4.4% After Hours After Blockbuster Quarter: Analyst Says It Is Supply, Not Demand That Matters

In after-hours trading on Wednesday, Micron Technology (NASDAQ:MU) slipped 4.43%, according to Benzinga Pro. The company delivered quarterly earnings earlier in the day. 
Micron Reports Q2 Earnings On Wednesday
The company reported second-quarter revenue of $23.86 billion, beating estimates. It posted adjusted earnings of $12.20 per share, which also topped Wall Street expectations.
For the third quarter, Micron guided $33.5 billion, with a leg room for plus or minus $750 million.
Micron Increases Capex And Addresses Supply Concerns 
During the earnings call, Micron execs said that the company is working toward addressing the gap between supply and demand.
The tech giant highlighted new facilities in the U.S., Taiwan, Japan and Singapore. However, these facilities are not expected to bring