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Short Take: Micron earnings plummet

First-quarter earnings for semiconductor and PC manufacturer Micron Technology plummented nearly 16-fold due to lower prices for PC memory products. The company reported net earnings of $20.6 million, compared with profits of $328.5 million a year ago. Revenues fell 38.6 percent to $728.1 million compared to the same period last year.

First-quarter earnings for semiconductor and PC manufacturer Micron Technology plummented nearly 16-fold due to lower prices for PC memory products. The company reported net earnings of $20.6 million, compared with profits of $328.5 million a year ago. Revenues fell 38.6 percent to $728.1 million compared to the same period last year.