(Reuters) – Micron Technology on Wednesday forecast second-quarter results below Wall Street estimates, as weakened prices for memory chips used in cellphones and personal computers weighed on earnings and the company’s shares in extended trading fell by 17.2%.

The market for DRAM chips, which make up the bulk of Boise, Idaho-based Micron’s sales, remains sluggish due to weak consumer demand and a continued supply glut.

DRAM chips are used in data centers, personal computers, smartphones and other computing devices.

Excluding items, Micron expects to earn $1.43 per share, plus or minus 10 cents, compared with analysts’ expectation of $1.91, according to data compiled by LSEG.

According to data compiled by LSEG, the company expects second-quarter revenue of $7.90 billion, plus or minus $200 million, compared to analysts’ estimate of $8.98 billion.

Demand for PCs and smartphones in key markets such as China remains weak, which has led to reduced inventories and an oversupply of memory chips.

Micron operates on a 1,400-acre DRAM chip manufacturing mega-campus in central New York state.

It also offers flash memory NAND chips that serve the data storage market.

(Reporting by Rishi Kant in Bengaluru; Editing by Pooja Desai)