Micron posts Q3 loss on weak demand

San Francisco

MICRON Technology Inc, which tried to bring order to the brutal memory chip business by buying out rivals, has left the job unfinished.

The US's largest maker of the semiconductors that provide the short-term memory in computers and phones reported a loss in its fiscal third quarter and said that it's heading for another one in the current period. The outlook sent its shares tumbling. Demand isn't strong enough to account for industry-wide output forcing prices of some chips below the cost of production.