Micron Surges to 20-Year High After Raising Earnings Guidance
Photographer: Tomohiro Ohsumi/Bloomberg
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Micron Technology Inc. jumped to a 20-year high Tuesday after the company said revenue and profit came in better than it had predicted in the current quarter.
The largest U.S. maker of memory chips now expects revenue of as much as $5.75 billion in its fiscal first quarter, which ends Thursday, up from a previous projection for as much as $5.4 billion. Earnings per share will be as much as 65 cents, up from a prior forecast of 32 cents to 46 cents, the company said in a statement.