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Micron Earnings, Forecasts Beat Estimates on Improving Prices

Micron Technology Inc., the largest U.S. maker of memory chips, predicted profit and sales that may beat analysts’ estimates, helped by improving prices for semiconductors used in computers as demand for those devices picks up.

Micron and other memory chipmakers may be benefiting from a rebound in orders for personal computer parts after PC makers ran down their inventories to too low a level for the holiday shopping season when demand for PCs peaks. Micron’s revenue had declined year over year for the last six quarters as industry production of chips has outpaced stagnant demand for computer and smartphone components. The oversupply has squeezed prices of the memory semiconductors that are traded as commodities. The company is trying to upgrade its manufacturing to make it as efficient as larger rivals Samsung Electronics Co. and SK Hynix Semiconductor and improve profitability.