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UPDATE 2-Micron forecasts current quarter above estimates, shares rise

* Q3 profit, revenue beats estimates

* Q4 profit, revenue above estimates

* Shares up nearly 44 pct YTD (Adds details)

June 29 (Reuters) - Micron Technology Inc forecast better-than-expected profit and revenue for the current quarter as it benefits from improved prices of memory chips used in computing systems and smartphones amid tight supply.

The company's shares, already up nearly 44 percent this year, were up 2 percent at $32.12 after the bell on Thursday.

Micron said it expects revenue between $5.70 billion to $6.10 billion and a profit of $1.73 to $1.87 per share for the fourth quarter.

Analysts were expecting revenue of $5.62 billion and a profit of $1.57 per share, according to Thomson Reuters I/B/E/S.

Prices of dynamic random access memory (DRAM) chips, used in PCs and servers, have rebounded sharply due to high demand from rapidly growing cloud-services providers and a stabilizing PC industry.

Micron, which gets about 60 percent of its revenue from the sale of DRAM chips, said DRAM prices jumped 14 percent in the third quarter.

The Boise, Idaho-based company also reported a better-than-expected quarterly profit and revenue.

Also demand for NAND chips, used in smartphones for storage has been strong, largely due to a shift to high-end phones. Micron said there was 17 percent jump in NAND pricing during the reported quarter.

Net income attributable to Micron was $1.65 billion, or $1.40 per share, in the third quarter ended June 1, compared with a net loss of $215 million, or 21 cents per share, a year earlier.

Revenue nearly doubled to $5.57 billion.

Excluding items, the company earned $1.62 per share. Analysts had expected a profit of $1.51 per share and revenue of $5.41 billion. (Reporting by Rishika Sadam in Bengaluru; Editing by Shounak Dasgupta)