Micron Technology Stock Shares Up Nearly 10%
Shares of Micron Technology (MU) jumped $1.11 (+9.11%) on Friday after the company reported unexpected profit during its fourth quarter due to strong DRAM chip demand and image sensor sales. I wonder how much of the profit increase is due to the “Fat Body” D9 memory IC’s that enthusiast memory companies Corsair, Mushkin, and OCZ are buying for their high end DDR2 memory modules. This goes to show enthusiast products are more than just marketing if our thoughts are correct. The full report can be found in our forum by following the link below.
Micron Technology, Inc., today announced results of operations for its 2005 fiscal year and fourth quarter, which ended September 1. For the 2005 fiscal year, the Company earned net income of $188 million, or $0.29 per diluted share, on net sales of $4.88 billion. For the fourth quarter, the Company earned net income of $43 million, or $0.07 per diluted share, on net sales of $1.26 billion. These quarterly results compare to a net loss of $128 million, or $0.20 per diluted share, on net sales of $1.05 billion for the third quarter of fiscal 2005.
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