- Micron Technology, Inc (NASDAQ:MU) experimented with a new pricing model for its chips called forward pricing agreements, Reuters reports.
- The agreements aim to stabilize the steep price fluctuations that afflict the industry.
- Micron won a top 10 customer on this model with over $500 million a year of revenue for a three-year agreement.
- The forward pricing agreements have both volume and pricing.
- The report noted that Micron does not look to lower its gross margins to push the forward pricing agreements ahead.
- Price Action: MU shares closed higher by 1.12% at $67.71 on Thursday.
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