Wall Street insisted that Micron write out 1000 times that it "must not fall short of Wall Street expectations" although "doing lines" might have meant something different in a Wall Street sense.

For those who have never heard of Micron, it is an outfit which makes DRAM and NAND chips for PCs, smartphones, servers and other devices. We say this because it is clear that the rest of the world is having a bit of trouble working out if today's announcement was good or bad "Micron Tech shares fall after revenue miss" thundered Market Watch. While the Wall Street Journal said "Micron Profit Soars on Stronger Sales, Margins" of course they are both right, but the inability to form a conclusion about Micron is typical for a media industry used to being told what to think by the likes of Microsoft or Apple PR departments.

Micron's revenue rose 13 percent to $4.57 billion in its first quarter, which ended on December 4, but it warned that in its second quarter, Micron said it expects revenue of between $4.1 billion and $4.3 billion.

The reason for this is that it has to upgrade its DRAM lines and production will slip a bit.

Analysts on average had expected revenue of $4.614 billion for the first quarter and $4.528 billion for the second quarter.

Chief Executive Mark Durcan told analysts that the production lull is occurring in a normally seasonally slower demand period. Micron would increase its overall DRAM production at a slower rate than its competitors this year.

It also looks like Micron's acquisition of Japanese DRAM maker Elpida Memory, which the U.S. chipmaker bought in July 2013 has paid off.