Micron Technology Falls After Hours Despite Q4 Earnings Beat

Micron Technology (NASDAQ: MU) shares were taking a hit late Tuesday afternoon, following the company's release of its fourth quarter of fiscal 2020 results after market hours. Non-GAAP (adjusted) net profit nearly doubled, to just under $1.23 billion ($1.08) from the year-ago result of $637 million. Collectively, prognosticators tracking the stock were modeling $5.89 billion on the top line, and an adjusted per-share net profit of $0.98.