SAN FRANCISCO (MarketWatch) — The last few months have been rough for Micron Technology, though that might not be so apparent from looking at the incredible run-up on the chipmaker’s stock price.
Micron (US:MU) has struggled with falling prices for its products and a market so wobbly it recently forced one of its rivals into bankruptcy. This on top of the tragic death of its well-regarded chief executive, who was killed in a plane crash in the company’s hometown of Boise, Idaho, last month.
It has had such a rough time recently that Micron is expected to swing to a loss when it reports second quarter earnings on Thursday, March 22. Analyst are expecting a loss of 19 cents, on revenue of $2 billion, compared with a profit of 7 cents a share, on revenue of $2.3 billion in the year-earlier period, according to FactSet Research.
But behind the dark clouds that have surrounded the Boise, Idaho-based chipmaker are signs of better times ahead.
This much is clear on Wall Street where the stock has soared roughly 40% since the beginning of the year, and more than 50% over the last three months. The shares were trading flat on midday Friday at $8.83.
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