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Micron projects revenue above estimates on strong demand -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Micron Technology showcases its solid-state drive, which is designed for customers who use data centers, at a San Francisco product launch on October 24, 2019. REUTERS/Stephen Nellis

(Reuters] -Micron Technology Inc. forecast second-quarter revenues above market estimates on Monday, as pandemic-driven remote working shift drives up demand.

It produces the NAND and DRAM memory chips, which are used widely in data center and personal computers.

Micron (NASDAQ):, one of the largest memory chip suppliers in the world, has been able to raise prices due to strong demand and a shortage.

According to Refinitiv data, the company anticipates that revenue will be $7.5 Billion for this quarter, up or down $200 M, as opposed to analysts’ average of $7.27B.

Micron’s adjusted earnings of $2.16 per share beat the expectations at $2.11 per shares in its first quarter.

In extended trading, its shares rose by 5.7% to $87.7

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