Micron Technology Inc beat analysts' estimates for quarterly revenue and pr...
FILE PHOTO: Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach
Stocks in chipmakers have fallen in the past few months as demand for Apple’s iPhones declined and prices for DRAM and NAND memory chips sank due to an oversupply, adding to concerns that a two-year-long semiconductor upswing was coming to a halt. To soften the blow from the market glut, Micron reduced its output to prop up prices and has been investing more in its next generation of chips.
Net income attributable to Micron fell to $840 million, or 74 cents per share, in the third quarter ended May 30, from $3.82 billion, or $3.10 per share, a year earlier.
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