With a glut still nagging the chip industry, Micron expects the deepest revenue drop since 2001. Micron shares in after hours trading rose about 2%. The company expects third-quarter revenue of $3.70 billion plus or minus $200 million, matching analysts' average estimate, according to Refinitiv data. Revenue for the second quarter fell by about 53% to $3.69 billion, compared with estimate of $3.71 billion. Net loss was $2.3 billion, compared with a profit of $2.26 billion a year earlier.

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