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Micron says demand for memory chips will stay strong, but its stock falls anyway


Micron says demand for memory chips will stay strong, but its stock falls anyway
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Micron Technology Inc. hosted a lively earnings call today, saying it expects demand for flash memory chips to remain high for the rest of the year even as the supply of other kinds of computer chips begins to meet customers’ needs.
It also announced the sale of a manufacturing plant in Lehi, Utah, where it had previously made 3D Xpoint chips in partnership with Intel Corp., as well as a big investment in some important, next-generation chipmaking machinery.
The company posted strong results. It reported a third-quarter profit before certain costs such as stock compensation of $1.88 per share on revenue of $7.42 billion, up from $5.44 billion in the same period one year ago. That was better than expected, with Wall Street analysts looking for earnings of just $1.72 per share on revenue of $7.32 billion. ....

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Micron Gives Up on Intel-Championed Memory, to Sell Factory

Micron Gives Up on Intel-Championed Memory, to Sell Factory
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