MarketWatch First Take: Micron reassures investors that memory-chip demand remains very high

Amid Wall Street skepticism that the memory-chip party will continue, Micron Technology Inc. tried to convince analysts on its conference call Tuesday that there is still strong demand, with many new markets for memory chips that are just getting started.

Micron MU, -1.98%reported a better-than-expected fiscal fourth quarter and its outlook for the first quarter also surpassed expectations. But its stock did a roller-coaster dip and rise in after-hours trading, initially falling on a bigger-than-expected forecast for capital spending of $7 billion for fiscal 2018. Micron has benefited from a big upsurge in memory-chip prices in the past year, with its shares up about 52%, compared with the S&P 500’s SPX, +0.01% 10% gain year-to-date.

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