Micron Rises as Sales, Profit Top Analysts' Estimates
- Sales forecast for current quarter exceeds some projections
- Still, company warns growth may be sluggish as PC demand drops
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Micron Technology Inc., the biggest U.S. maker of computer memory, rose the most in five weeks after reporting fiscal fourth-quarter sales and profit that exceeded some analysts’ estimates.
Micron shares climbed 7.7 percent to $15.91 at the close in New York, the biggest single-day advance since Aug. 27. The stock had lost 58 percent of its value this year through Thursday.