was in the odd position of facing both high and low expectations for its fiscal fourth quarter reported Tuesday afternoon. Unfortunately for the memory chip maker, the high side ruled the day.
Revenue for the quarter came in at nearly $6.1 billion, beating Wall Street’s $5.9 billion forecast and up about 24% year over year. Adjusted earnings of $1.08 per share also exceeded analysts projections. The gain mainly came from DRAM memory, where revenue surged 29%.
DRAM makes up more than two-thirds of Micron’s total business. But the company said on its earnings call Tuesday that it sees a “mix shift” toward NAND flash sales in the first half of its new fiscal year. That will weigh somewhat on profits because of