Micron (MU) Surges On Hynix Production Cut

Shares of Micron Technology (NYSE: MU) are on the move today, rising 25%, on word rival Hynix Semiconductor will cut memory chip production by 20%-30% at the end of this month due to weak prices and demand.

Computer memory makers like Micron, Hynix and Toshiba are being forced to cut back production until prices and demand recovers.

While Micron is jumping today share are still down 62% in the last 6-months.

Micron Technology, Inc., together with its subsidiaries, engages in the manufacture and marketing of semiconductor devices worldwide.

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