Micron Stock Rallies as Outlook Tops Street Estimates – Barrons

Micron Technology shares headed higher after the memory-chip company posted strong results, while providing better-than-expected forecasts for the current quarter.

For the fiscal first quarter, ended Dec. 2, Micron (ticker: MU) reported revenue of $7.69 billion, up 33% from a year ago, and marginally ahead of the company’s target of $7.65 billion, though down 7% sequentially. Non-GAAP profits were $2.16, above the company’s target of $2.10 a share.

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