Micron hopes diversification short-circuits losses

Chipmaker Micron Technology Inc. has been trying to remake itself for years, to free itself from dependence on commodity computer chips and diversify its products.

It just reported its first annual profit in four years. But its shares are still way down for the year.

That's a sign that Chief Operating Officer Mark Durcan still has a ways to go before he convinces investors that Micron is a new company -- not the same one that posted stomach-churning profit-to-loss swings over the last decade.

Micron, based in Boise, makes memory devices for cell phones, cars, security systems and iPads.

It's even getting into solar energy.

Durcan is optimistic, saying he feels pretty good about having survived the recession as the only remaining U.S. or European memory maker -- with $3 billion in cash, to boot.