DRAM and NAND Memory Drive Micron Earnings Higher & Outlook Higher

Leading memory chip maker Micron Technology $MU once again beat earnings after the close Tuesday sending the stock higher with its fiscal first quarter and guided much higher. 

Leading memory chip maker Micron Technology $MU once again beat earnings after the close Tuesday sending the stock higher with its fiscal first quarter and guided much higher. Of  $6.80 billion Revenue DRAM: 67% of total and NAND: 27% of total.

micron dram

Earnings: EPS adjusted $2.45 a share in the quarter ended Nov. 30, up from 32 cents reported in the year-earlier period. Revenue rose 71% to $6.8 billion. Analysts expected Micron to earn an adjusted $2.20 a share on revenue of $6.39 billion, according to Zacks Investment Research.

Reaction: Micron $MU Nasdaq  $47.10 + $3.07 +7.09%

Guidance: For the current quarter, Micron expects to earn an adjusted $2.58 a share on sales of $7 billion, based on the midpoint of its guidance. Wall Street had been modeling $1.95 a share on sales of $6.08 billion according to Zacks.

Micron Industry Outlook 2018

 

Source: Micron Earnings Report

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