Micron sales beat expectations as chip supplies remain tight, prices high

Micron Technology's solid-state drive for data center customers is presented at a product launch event in San Francisco, U.S., October 24, 2019. REUTERS/Stephen Nellis/File Photo GLOBAL BUSINESS WEEK AHEAD

(Reuters) -Micron Technology Inc on Wednesday beat Wall Street estimates for quarterly profit and forecast fourth-quarter revenue above expectations, as tight supplies of memory chips and continued strong demand kept prices high.

The chipmaker forecast current-quarter revenue of $8.2 billion, plus or minus $200 million, while analysts on average were expecting $7.87 billion, according to IBES data from Refinitiv.