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Micron Technology, Inc. (NASDAQ: MU) is a leading American semiconductor company, specializing in the production and innovation of memory and data storage solutions. Based in Boise, Idaho, Micron is renowned for its dynamic random-access memory (DRAM), flash memory, and USB flash drives. Micron’s consumer products, such as the Ballistix line of memory modules, are marketed under the Crucial® brand.
As one of the largest semiconductor companies globally, Micron serves a diverse range of markets, including data centers, mobile, consumer electronics, industrial, and automotive applications. The company’s integrated model enables it to oversee the entire production process, ensuring high-quality and innovative solutions. Micron’s DRAM remains the primary revenue driver, with additional contributions from NAND flash memory.
Recent highlights include the introduction of the 4150AT SSD, designed for automotive applications. This SSD boasts enterprise-class speeds and enhanced multi-tasking capabilities, making it ideal for the evolving needs of software-defined vehicles. Micron’s innovation extends to the 2500 SSD, a client SSD that leverages advanced QLC NAND technology to lead in performance and reliability, enhancing everyday computing experiences.
Micron’s strategic investments, buoyed by federal and state incentives such as the $6.1 billion from the CHIPS and Science Act, have paved the way for groundbreaking projects in Idaho and New York. These projects are set to create thousands of jobs and significantly boost U.S. semiconductor manufacturing capabilities.
In the realm of high-capacity memory, Micron has achieved another milestone by shipping its 128GB DDR5 RDIMM memory. This product, powered by the 1β (1-beta) technology, offers superior performance, efficiency, and latency, catering to the demanding needs of data centers and AI applications.
Micron’s commitment to community development is also evident, as demonstrated by its $20 million investment in Community Development Financial Institutions (CDFIs). This initiative aims to bolster financial inclusion and economic opportunities in underserved communities.
For more information about Micron Technology, Inc., visit micron.com.
Micron Technology, Inc. (Nasdaq: MU) has commenced volume shipments of the world’s first 176-layer QLC NAND SSD, the Micron 2400 SSD, a significant achievement in storage technology. This innovation delivers an industry-leading storage density and optimized performance for client applications. The SSD offers 33% higher I/O speed and 24% lower read latency compared to its predecessor. The device is available in a compact 2TB 22x30mm form factor, offering excellent power efficiency and enhanced user experience, further driving the adoption of QLC in the client market.
Micron Technology, Inc. (Nasdaq: MU) announced the resignation of David Zinsner, the executive vice president and chief financial officer, effective immediately. Zinsner is leaving to join Intel Corporation as its CFO. In the interim, Sumit Sadana, currently the executive vice president and chief business officer, has been appointed as the interim CFO while a formal search for a new CFO is underway. Micron's financial guidance for the second quarter of fiscal 2022 remains unchanged, with the company expressing confidence in its strong financial position for continued growth.
Chronos Tech LLC has appointed Ali Farhang as the new CEO, assuming day-to-day leadership and joining the Board of Directors. With over 30 years in the semiconductor industry, Farhang previously served as Corporate Vice President at Micron Technology (NASDAQ: MU) and held senior roles at Intel (NASDAQ: INTC). His experience in leading R&D teams and advising startups positions him to enhance Chronos' commercialization efforts in developing advanced SoC fabric solutions targeting applications in AI and cloud computing.
Silicon Labs (NASDAQ: SLAB) has appointed Sumit Sadana as Lead Director of its board, succeeding Bill Wood, who held the position since 2005. Sadana has been a board member since 2015 and is currently the Chief Business Officer at Micron Technology (NASDAQ: MU). The appointment comes as the company aims to capitalize on growth opportunities in the 'Internet of Things' sector. CEO Matt Johnson praised Sadana's leadership and experience, noting the company's gratitude for Wood's contributions during a transformative period.
Micron Technology, Inc. (Nasdaq: MU) announced the appointment of Rob Beard as the new senior vice president, general counsel, and corporate secretary, succeeding Joel Poppen, who will retire in mid-2022 after over 26 years with the company. Beard's legal expertise will strengthen Micron's global legal and compliance functions. Previously, he led corporate operations at Micron and practiced at top international law firms. Poppen will continue as a special advisor until his retirement, highlighting his significant contributions to Micron's growth and industry leadership.
Micron Technology (Nasdaq: MU) reported fiscal Q1 2022 revenue of $7.69 billion, down from $8.27 billion in the previous quarter, but up from $5.77 billion a year ago. GAAP net income reached $2.31 billion, or $2.04 per diluted share. Non-GAAP net income was $2.47 billion, or $2.16 per diluted share. The company announced a quarterly dividend of $0.10 per share and maintained a strong cash position of $11.48 billion with a net cash of $4.46 billion. Micron projects Q2 2022 revenue guidance of $7.5 billion ± $200 million.
Micron Technology (Nasdaq: MU) announced that Chief Financial Officer David Zinsner will participate in a fireside chat at the J.P. Morgan Tech/Auto Forum on January 5, 2022, at 10:55 a.m. Mountain time. The event will be webcast live from the Bellagio Hotel in Las Vegas, and interested parties can access the live broadcast and replays through Micron's Investor Relations website. Micron is recognized for its innovative memory and storage solutions, enhancing the data economy and supporting advancements in technologies such as artificial intelligence and 5G.
Micron Technology, Inc. (Nasdaq: MU) announced plans for a new memory design center in Midtown Atlanta, set to open in January 2022. This move aims to enhance Micron's access to local technical talent and foster partnerships with regional institutions such as Emory University and Georgia Tech. The center is projected to create up to 500 jobs in STEM fields, advancing Micron's leadership in DRAM and NAND technologies crucial for AI, 5G, and autonomous vehicles. This expansion is part of Micron's strategy to respond to the growing demand for memory and storage solutions.
Micron Technology (Nasdaq: MU) announced an expansion of its partnership with United Microelectronics Corporation (UMC) aimed at securing supply for automotive, mobile, and critical customers. This collaboration will enhance supply chain strength and address customer needs in the semiconductor industry. Micron's Executive VP, Manish Bhatia, emphasized the importance of this relationship for accessing essential products. UMC expressed its commitment to supporting Micron's goals with their advanced manufacturing capabilities, reinforcing the significance of industry collaboration.
United Microelectronics Corporation (NYSE: UMC) and Micron Technology (Nasdaq: MU) have reached a global settlement, withdrawing mutual complaints. UMC shall make a one-time payment to Micron. Both companies aim for future business collaboration. Micron, a major player in the semiconductor sector, boasts over 47,000 patents and emphasizes IP protection for competitive advantage. UMC specializes in logic and specialty semiconductor fabrication, having a capacity of nearly 800,000 wafers per month across its 12 fabs.
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