Natalie Parkinson
1
All posts from Natalie Parkinson
Natalie Parkinson in Natalie Parkinson,

Micron Technology's shares may rise today

Micron Technology Inc., the largest U.S. maker of computer-memory chips, said fiscal fourth-quarter sales rose 49 percent, exceeding analysts’ estimates, as corporate demand for personal computers boosted prices.

Revenue in the period that ended Aug. 28 climbed to $4.23 billion, the Boise, Idaho-based company said today in a regulatory filing. Profit excluding certain costs was 82 cents a share. Analysts on average projected sales of $4.16 billion and profit of 81 cents. Micron’s forecast for revenue in the current period also topped the average estimate.

Fourth-quarter net income, which included gains from the sale of a unit, fell to $1.15 billion, or 96 cents a share, from $1.71 billion, or $1.51, a year earlier, the company said today.

Sales in the first quarter, which ends in November, will be $4.45 billion to $4.7 billion, according to a statement posted on Micron’s website. That compares with the average analyst prediction for $4.36 billion in revenue.

http://www.bloomberg.com/news/2014-09-25/micron-s-fourth-quarter-sales-rise-on-memory-chip-demand.html

The company’s shares rose in extended trading yesterday, and I suppose that they will rise during today’s session.