Micron Technology, Inc’s (NASDAQ:MU) 200 billion yen or $2.5 billion acquisition of bankrupt Japanese chip manufacturer Elpida Memory Inc would offer the United States corporation a stronger foundation to challenge Samsung Electronics Co in the market for memory used in computers and mobile gadgets.
Chief Executive Officer of Micron Technology Mark Durcan reported in a Bloomberg Television on Monday that they can observe so many synergies and so many opportunities to really become a much stronger rivalry in the memory space.
Purchasing Elpida, an Apple Inc (NASDAQ:AAPL) supplier, would double Micron’s share of the worldwide market for DRAM, the most generally used memory chips in personal computers, to almost 24%. The contract also increases Micron’s offering into types of memory used in smart phones and tablets while offering it greater control over supply gluts that have caused it to report losses among falling prices.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Spansion Inc. (NYSE:CODE) increased +0.36% to settle at $11.02, Intel Corporation (NASDAQ:INTC) moved up +0.06% to end at $26.67 while SanDisk Corporation (NASDAQ:SNDK) surged +1.18% to finish on Monday at $36.91.
Micron Technology, Inc. (NASDAQ:MU) last session volume of 51.15 million shares was higher than its average volume of 26.97 million shares. The stock after opening at $6.73 hit high price of $6.82 and then closed at $6.55 by scoring +3.80%.
MU generated revenue of 8.41 billion in the following twelve months and earned -$924.00 million. The Company showed a negative -7.38% in the net profit margin and as well as in its operating margin which remained -4.97%. Company’s annual sales growth for the past five year was 10.76%.
The MU past twelve months price to sales ratio was 0.77 and price to book ratio remained 0.83.
The stock showed weekly upbeat performance of +17.17% which was maintained for the month at +20.18%. Likewise the negative performance for the quarter was recorded as -19.14% and for the year was -16.35% while the YTD performance remained at +4.13%.
DO NOT TRADE ANY STOCK WITHOUT LEVEL 2 STOCK QUOTES! QuoteDaddy.com delivers it's user with the most in-depth Level 2 Quotation System available on the Planet! NO Downloads, NO Widgets, NO Plugins required! Stay on TOP of your trades with QuoteDaddy.com! CLICK HERE TO START YOUR FREE 30-DAY TRIAL
