Micron Rises to Six-Year High as Chip Prices Stabilize
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Micron Technology Inc., the largest U.S. maker of memory chips, climbed to the highest price in almost six years after analysts at Jefferies & Co. and Credit Suisse AG raised their price estimates on the stock.
The shares advanced 3.8 percent to $13.24 in New York, the highest closing price since July 2007. The stock has jumped 109 percent this year, compared with a 23 percent gain for the Philadephia Semiconductor Index.