Future For Micron Technology Inc (NASDAQ:MU) Looks Bright

Posted by Kristi Scott October 13, 2013 0 Comment 2324 views

Late last week, Thursday, post the Elpida deal, Micron Technology, Inc (NASDAQ:MU) indicated a very bright future for the company, even as it surpassed revenue expectations. The company reported a Q4 financial profit of $1.71B which amounted to $1.51/share in comparison with the $243M or 24 cents/share loss that the company reported a year earlier. There was a rise in revenue from $1.96B to $2.84B.

More financial reports

The company also reported a gain of $1.31/share which was connected to the Elpida Memory and the Rexchip Electronics acquisitions. On an average, analysts expect the company to report a 24cents/share profit or $2.7B revenue. The company said that this boost came from the increase in DRAM processor prices. These are used in the manufacture of servers and PC’s and noted that there was a dip in NAND chip prices that were used extensively in smartphones and many other devices.

Friday’s trading

In Friday’s trading, Micron Technology, Inc (NASDAQ:MU) dropped by 8.63%. The opening price of the shares was $17.89, which climbed to an intraday high of $18.00 and dipped to a close of $16.84. Approximately 153.91 million shares were traded on Friday while an average volume of 51.85 million shares were traded over a 30 day period. The 52-week low of Micron Technology, Inc (NASDAQ:MU) shares is $5.16 and its 52-week high is $18.85. The company has a market capitalization of $00.00 billion.

About the company

Micron Technology, Inc (NASDAQ:MU) is a global-manufacturer as well as a marketer of semi-conductor devices. These are primarily DRAM, NAND Flash and NOR Flash-memory and other memory technologies, packaging-solutions and semi-conductor systems. These are used in consumer, computing, and automotive, embedded, networking, industrial and mobile products. Apart from this, Micron Technology, Inc (NASDAQ:MU) manufactures semi-conductor components that are used in CMOS image-sensors and various semiconductor products.

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

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