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Micron Rises 6.5% Despite Lower-Than-Expected FYQ1 View

Shares of DRAM and NAND chip maker Micron Technology (MU) continue to notch up gains in late trading following a better-than-expected fiscal Q4 report but a lower-than-expected Q1 view.

The shares are now up 98 cents, or 6.6%, at $15.75.

CFO Ernie Maddock on the call projected revenue in the three months ending in November of $3.35 billion to $3.6 billion, and EPS of 20 cents to 26 cents.

That is below consensus for $3.74 billion and 35 cents.

Maddock said gross profit margin will decline from Q4′s level to a range of 24.5% to 27%.

Maddock said the company is going to continue to see some pressure on product pricing:

Although we continue...