FILE PHOTO: Micron Technology’s solid-state drive for data center customers is presented at a product launch event in San Francisco, U.S., October 24, 2019. REUTERS/Stephen Nellis
(Reuters) – Micron Technology Inc (MU.O) raised its revenue forecast for the third quarter on Wednesday to a range of $5.2 billion to $5.4 billion from $4.6 billion to $5.2 billion, sending its shares about 3% higher.
The memory chipmaker said in a regulatory filing www.sec.gov/ix?doc=/Archives/edgar/data/723125/000072312520000053/mu-20200527.htm that it expected adjusted earnings between 75 cents per share and 80 cents per share.
“We had strong demand from our customers – notably in the data center space – and that demand has been driven mostly due to the work-from-home economy, the increased load on the server infrastructure because of everyone working from home, entertaining from home,” Sumit Sadana, Micron’s chief business officer, told Reuters in an interview.
Sadana said Micron also saw…
Source Reuters Tech News
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