Micron Technology Inc. said Thursday afternoon that a production facility was experiencing issues that are likely to affect its memory output this quarter, as the memory-chip company faces heavy demand for its products. Micron Chief Executive Sanjay Mehrotra said in an earnings conference call Thursday afternoon that nitrogen supply needed to build dynamic random access memory, or DRAM, chips at one of its facilities had been disrupted as of Tuesday, and it could pull down DRAM production by 2% to 3% this quarter. “Our teams are working around-the-clock to recover from the situation and expect to return to full production within the next week,” Mehrotra said. Micron’s forecast still beat expectations despite accounting for the issue. Micron stock was one of the strongest performers of 2017 on the S&P 500 index largely thanks to heavy demand for memory chips pushing prices higher. Shares were jagged after the company released earnings Thursday afternoon, with a sharp fall rebounding to slight positives before turning slightly negative again after the disclosure.
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