Micron will work with Intel to build a new 4 bits/cell NAND technology that will enable a crystal density of 1 Tb, making it the world's highest density flash memory.
Micron also stated that solid state drives using QLC NAND technology will begin shipping to customers and business partners. It is expected that Micron will be able to complete expansion and expand shipments this fall.
Another news is that Micron will buy back $10 billion in stock.
On Monday, Micron has already closed 3.9% higher, as the company raised its third-quarter forecast for the end of May. Currently, Micron expects its revenue for the third quarter to be between US$7.7 billion and US$7.8 billion, compared with the previous estimate of US$7.2 billion. The $7.6 billion range was pulled high.
Micron’s share price has risen nearly 35% this year. Intel’s stock price reaction is milder.