Micron Gives Strong Outlook, Suggesting Demand Is Rebounding
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Photographer: Tomohiro Ohsumi/Bloomberg
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Micron Technology Inc. gave a strong sales forecast for the current quarter and told investors it’s through the worst of a slump in the memory-chip industry.
Revenue will be as much as $4.8 billion in the fiscal second quarter, Micron said in a statement. Analysts had projected $4.76 billion, according to data compiled by Bloomberg. Adjusted earnings will be 35 cents a share, plus or minus 6 cents. Analysts estimated 40 cents a share on average.