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Tech Industry

Micron Tech sets 2-for-1 split

Micron Technology (NYSE: MU) plans to split its stock in several weeks.

After market close Wednesday, the memory chip giant said its board announced a 2-for-1 stock split to take effect May 1 for shareholders of April 18 record. It will be the third stock split for Micron since the company went public in 1989.

Shares of Micron rose as high as 134 1/2 in afterhours activity. The stock closed Wednesday's regular trading at 134 1/2, down 6 for the session amid a decline amid tech stocks in general.

The split announcement comes a week after Micron reported fiscal second quarter earnings and predicted a strong third quarter. Micron reported about 278.6 million diluted shares outstanding for the second quarter.>