Shares of Micron Technology Inc. undefined shot up 5.6% in premarket trading Monday, as production cuts announced by rival Samsung Electronics Co. Ltd....
Shares of Micron Technology Inc. shot up 5.6% in premarket trading Monday, as production cuts announced by rival Samsung Electronics Co. Ltd. provided a boost. The South Korea-based computer memory chip maker said Friday that it would cut production by"meaningful" levels to optimize its manufacturing operations, as the Associated Press reported.
The South Korea-based computer memory chip maker said Friday that it would cut production by"meaningful" levels to optimize its manufacturing operations, as the Associated Press reported. Stifel Nicolaus analyst Brian Chin believes"meaningful" cuts could represent a cut of 10% or more in utilization, with his checks with suppliers corroborating that the cuts began late in the first quarter.
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