Micron Technology Shares Fall With Lingering Concerns Over Pricing Pressures (MU)

Wed. September 30, 2009; Posted: 02:02 PM

Sep 30, 2009 (SmarTrend(R) News Watch via COMTEX) -- MU | Quote | Chart | News | PowerRating -- 9/30/2009 - Micron Technology Inc.'s (NYSE:MU) shares fell more than 1% Wednesday, a day after reporting earnings, due to lingering concerns about pricing pressures in the memory-chip market as well as profit-taking. The company posted a lower quarterly loss with the help of higher sales and average selling prices of its DRAM memory products. An analyst with Wedbush said, "We are not surprised shares are taking a breather today, as investors take profits given the 400%+ move in Micron off its 52-week low and ahead of seasonal peak for the memory market." Analyst Van Hees also wrote, "Micron reported ... yesterday a smaller than expected fiscal fourth-quarter loss largely due to strong end-market demand and robust DRAM pricing." The company's CEO Steve Appleton said in a statement that the market was "still challenging," but is "beginning to improve."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Micron Technology Inc (MU) click here. Micron Technology Inc (MU) has Short Term PowerRatings of 5. Details on Micron Technology Inc (MU) Short Term PowerRatings is available at This Link.

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