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Micron Technology (MU) Announces 4th Quarter and Annual Results

by Sean Patterson |
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Monday, Oct 1, 2012
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class="post-10250 post type-post status-publish format-standard has-post-thumbnail hentry category-business category-investing tag-dram tag-dynamic-random-access-memory tag-micron-technology tag-mobile tag-mu tag-nasdaqmu tag-pc tag-quarter tag-quarterly-results tag-revenue tag-server">

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Micron Technology, Inc. (NASDAQ:MU) missed analysts estimates and posted lower than expected quarterly results.

Company posted a wider than expected loss and lower than expected revenue due to weak sales of PCs and lower average selling prices.

Micron, maker of DRAM (dynamic random access memory) and other memory technologies is highly dependent on sales of PC, and shrinking demand for PCs is hurting the company’s growth. Sales for the DRAM dropped 9% during the quarter. Company is now looking towards mobile industry and server market so that it can lower its reliance on PC market.

Micron Technology generated revenue of $8.2 billion in fiscal 2012, with a loss of $1 billion.


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