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Micron Technology (MU) Surges On Strong Financial Results

|Includes:Micron Technology Inc. (MU)

https://staticseekingalpha.a.ssl.fastly.net/uploads/2014/1/8/saupload_mu.jpg Micron Technology, Inc., (NASDAQ:MU)

Shares of MU surged on Wednesday's trading session, after the company reported its financial results.

For the first quarter of fiscal 2014, MU posted revenues of $4.04 billion, a 120% increase year over year, and GAAP net income attributable to MU shareholders of $358 million, or $0.30 per diluted share, compared to GAAP net loss of ($275) million, or ($0.27) per diluted share in the same period the prior year.

Cash flows from operations for the first quarter of fiscal 2014 were $1.51 billion, while investments in capital expenditures were $669 million. MU ended the first fiscal quarter with cash and marketable investments of $4.41 billion.

https://staticseekingalpha.a.ssl.fastly.net/uploads/2014/1/8/saupload_mu_chart.png

MU, together with its subsidiaries, manufactures and markets semiconductor solutions worldwide

More about Micron Technology, Inc., (MU) at www.micron.com

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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: MU