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