Micron Profit Up 3.2%

Micron Technology Inc., the biggest U.S. maker of memory chips for personal computers, said fiscal first-quarter profit rose 3.2% to $352.2 million, or 58 cents a share, 2 cents below the average estimate of analysts, as PC demand waned and chip prices fell. Revenue rose 16% to $1.83 billion. Estimates ranged from $1.22 to 40 cents. Micron shares fell $4.94 to close at $29.81 on the NYSE.