Micron Revenue Exceeds Estimates on Improving Chip Shipments
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Micron Technology Inc., the largest U.S. maker of memory chips, rose the most in more than a year after reporting fiscal second-quarter revenue that exceeded estimates amid a rebound in chip shipments.
Sales rose 3.4 percent to $2.08 billion from $2.01 billion a year earlier, the Boise, Idaho-based company said in a statement yesterday. Analysts on average estimated revenue of $1.91 billion, according to data compiled by Bloomberg.