FILE PHOTO: The company logo is seen on the Micron Technology Inc. offices in Shanghai, China May 25, 2023. REUTERS/Aly Song/File Photo
(Reuters) -Chipmaker Micron Technology's shares jumped 7% on Thursday after it predicted a strong recovery in the supply-demand balance for memory and flash storage in 2024.
The company's quarterly results on Wednesday exceeded market expectations and it forecast a strong February quarter in a clear sign that memory chip prices will improve next year to recover from a months-long downturn.
