NAMPA, Idaho (Bloomberg) — Micron Electronics Inc. fell as low as $4.31 in early NASDAQ trading Friday after the direct seller of personal computers said it expects earnings for the fiscal first quarter to be below analysts' estimates because of falling computer-chip prices at its SpecTek unit.
Micron expects to report revenue of $385 million to $400 million and earnings of 1 cent to 4 cents a share for the quarter ended Nov. 30, the company said in a press release.
The company was expected to earn 11 cents, the average estimate of nine analysts surveyed by First Call/Thomson Financial.
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Sales of personal computers are expected to be $30 million to $35 million lower than previously estimated because of slower holiday sales, the company said.