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Bloomberg News

Gateway, Micron in Chip Deal: Gateway Inc., the No. 2 direct seller of personal computers, said it will buy computer memory chips from Micron Technology Inc., helping to ensure a steady supply of components for the next five years. Terms of the agreement with Micron, the No. 1 U.S. memory-chip maker, weren’t disclosed. The agreement follows a similar accord between Micron and Compaq Computer Corp., the No. 1 PC maker, unveiled on Monday. Prices of memory chips, which speed the processing of information in PCs, shot up about 30% late last month after an earthquake in Taiwan disrupted production. San Diego-based Gateway lost $1.25 to $62 on the New York Stock Exchange. Micron slipped 38 cents to $61.75 on the NYSE.

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