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Micron Rising: FYQ3 Beats, Q4 View Higher: DRAM Prices Up 14%, NAND Volume Up 17%

[Updates with share price change at bottom of story.]

Shares of DRAM and NAND flash chip maker Micron Technology (MU) initially rose 1.3%, but then gave up gains, in late trading, after the company this afternoon reported fiscal Q3 revenue and profit per share that easily topped analysts’ expectations, driven by a big jump in DRAM prices and a surge in volume of NAND sold, and forecast this quarter's revenue and profit higher as well..

Revenue in the three months ended in June rose 20% from the prior quarter, and 92% from the prior-year period, to $5.57 billion, yielding EPS of $1.62.

Analysts had been modeling $5.4 billion, and $1.52...