Micron's optimistic market view

Micron, the largest US chip maker, saw its shares tumble the most in two months. The decline comes after the company's warning that operating costs are surging more than predicted. The stock price dropped 4.6%, its worst since september 28. As of monday's closing, it had risen 55% for the year, boosted by hopes that the chip sector recovered from a slump. Micron announced $990 million in adjusted operating expenditures for the quarter. That was higher than the market prediction of $900 million.