Micron Technology reported a double-digit surge in sales and profits during its second fiscal quarter on Thursday, helped by an increase in demand and selling price for its chips. Overall net income climbed to $894 million, or 77 cents per share, from $180 million, or 16 cents per share, a year ago. Excluding certain items, earnings came in at 90 cents, beating Wall Street analyst estimates of 85 cents per share. Micron has benefited as more companies clamor for these chips and prices rise. Micron's margins have nearly doubled, rising to 37% in the latest quarter up from 20% a year ago.

Source: Forbes March 23, 2017 20:23 UTC