Micron Upgraded as DRAM Price Declines Slow
It's been a long winter for Micron Technology (NASDAQ: MU) and the market for dynamic random-access memory (DRAM) chips. Prices have been plunging all year as supply overwhelmed demand. In Micron's fiscal 2019, which ended in August, the company saw average per-bit selling prices for DRAM chips drop 30% from 2018.
This difficult pricing environment has wreaked havoc on Micron's bottom line. The company's adjusted earnings per share plummeted by 84% in the fourth quarter compared to the prior-year period, and its guidance called for even lower earnings to start fiscal 2020.
Image source: Micron.
Source Fool.com
