Micron posts smallest revenue decline in a year

(Reuters) – Memory-chip maker Micron Technology Inc reported better-than-expected fourth quarter revenue, which saw its smallest decline in a year, as pricing improves and the personal computer market shows signs of rebound. Micron forecast first-quarter adjusted profit of 13-21 cents per share, while analysts were expecting a profit of 9 cents, according to Thomson Reuters I/B/E/S. It would represent the company's first profit in three quarters. Micron, which manufactures DRAM chips used in PCs and NAND flash memory chips widely used in smartphones to store music, pictures and data, has enjoyed a recovery in the last six months amid signs of improvement in the market.

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