Micron Technology stock fell as the biggest U.S. maker of memory chips issued a sales forecast that missed analysts’ estimates because of weaker demand for personal-computer components.

The Boise company’s shares fell $4.36, or 18.2 percent, to close at $19.66 Friday. The decline left the stock down 44 percent this year.

Micron’s revenue for the fiscal fourth-quarter will be $3.45 billion to $3.7 billion, the company estimated after the close of regular trading Thursday on its website. Analysts on average had projected sales of $4.16 billion for the period through August, according to data compiled by Bloomberg.

For the third quarter, which ended June 4, Micron reported its first revenue decline in more than two years, reflecting sluggish PC sales as computer-makers failed to win over consumers with new laptops. Demand for memory chips used in servers, while strong, hasn’t made up for the shortfall, according to Daniel Amir, an analyst at Ladenburg Thalmann & Co.

By: DocMemory
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