Micron also said it would buy back $10 billion of its shares.
On Monday Micron shares rose 3.9 percent after the chipmaker raised expectations for its fiscal third quarter ending in May. It now expects sales in the quarter to be in the range of $7.7 billion to $7.8 billion, up from previous guidance set at $7.2 billion to $7.6 billion. The stock is up nearly 35 percent this year through Monday.
Intel shares are reacting more modestly, up 0.2 percent Tuesday after climbing 1.5 percent on Monday.
Programming Note: For more on Micron, watch CEO Sanjay Mehrotra's interview on Mad Money tonight at 6 p.m. ET.