Micron raises sales and profit outlook due to improved pricing for key products.

Micron Technology raised its revenue and profit outlook for the fourth quarter, citing an improvement in pricing for a key product. The company stated on Monday that sales for the three months ending on August 28 will reach $11.2 billion, with a fluctuation of $100 million. The company had previously forecasted sales of $10.7 billion for the fourth quarter, with a fluctuation of $300 million. Earnings per share excluding certain items will be $2.85, with a fluctuation of 7 cents. The company had previously forecasted $2.50, with a fluctuation of 15 cents. The adjusted gross margin for the fourth quarter will be 44.5%, with a fluctuation of 0.5 percentage points, while the company had previously forecasted 42%, with a fluctuation of 1%. As one of the best-performing chip stocks this year, Micron's performance outlook released in June fell short of market expectations, disappointing investors. "The revised guidance reflects improvements in pricing, especially in DRAM, and strong execution," Micron stated in its announcement on Monday, referring to the category of dynamic random-access memory.