Micron’s stock suffers as outlook for higher costs disappoints

Shares of Micron Technology Inc. took a hit Tuesday, as investors appeared to focus more on the memory-chip maker’s disappointing outlook for operating expenses than the raised guidance for both its top- and bottom-lines.

The stock MU sank 2.6% in midday trading, enough to lead the PHLX Semiconductor Index’s SOX decliners. It was also the S&P 500 index’s SPX second-worst performer.

Micron…