Micron Technology's stock closed down three cents Friday at $5.98 in the first full day of trading after reporting a $1 billion loss for its 2012 fiscal year.
The company notched its worst financial performance since 2009, when it lost $1.8 billion. Company executives and analysts says large swings of profit and loss are typical in the memory-chip business, where supply and prices fluctuate widely.
In a call with analysts Thursday, the company stressed that its planned acquisition of bankrupt Japanese chip maker Elpida Memory Inc. would give it a greater share of the memory market.
Analysts say that could help smooth out the volatility of the memory market.
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