Micron Technology DRAM sales up (a "clarification"???)
By Emily Church, CBS MarketWatch
Last Update: 2:41 PM ET Mar 11, 1999 Micron Technology confirmed Thursday that sales of the company's key dynamic random-access memory chips outpaced some analysts' expectations for the current quarter.
Micron (MU) is producing more chips with the same amount of raw materials, thereby boosting its profit potential, according to a spokeswoman for the company, based in Boise, Idaho. She cited in part the PC industry climate of stable pricing and demand.
"We really don't comment on analysts' expectations, the point he was trying to make in his presentation is that as the quarter (goes on), the analysts have continued to raise their expectations," the spokeswoman told CBS.MarketWatch.com.
News about the positive sales picture first surfaced on Wednesday after Dow Jones quoted a company official as saying, "From the point where [analysts] were expecting a loss, we ended the quarter with higher shipments."
Investors bid up shares of Micron following the initial reports, but the stock lost its steam on Thursday afternoon.
Micron shares, down 2 1/4 to 52 1/2, remain well off their 52-week-high of 80 9/16, set on Feb. 4 |
