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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) announced the formation of the Northeast University Semiconductor Network on April 10, 2023, aimed at developing the semiconductor workforce in the U.S. Collaborating with 21 founding members, including prestigious institutions like Brown and Carnegie Mellon, the network intends to enhance student learning through research and industry partnerships. Highlighted at a press conference by U.S. Senate Majority Leader Charles Schumer, this initiative is part of Micron's commitment to bolster STEM education and create a diverse talent pipeline. It aligns with the CHIPS and Science Act to support workforce development, further supported by a joint $10 million investment for curriculum development. The project is a response to Micron's historic $100 billion investment in Central New York, projected to create tens of thousands of jobs.
Micron Technology, Inc. (Nasdaq: MU) reported fiscal Q2 2023 results with revenue of $3.69 billion, down from $4.09 billion in the previous quarter and $7.79 billion year-over-year. The company recorded a GAAP net loss of $2.31 billion, translating to $2.12 per diluted share. Inventory write-downs totaled $1.43 billion, impacting earnings significantly. Operating cash flow declined to $343 million from $943 million the prior quarter. Micron anticipates gradual improvements in supply-demand dynamics and remains confident in long-term demand, continuing its investment strategy to maintain competitiveness.
Micron Technology, Inc. (Nasdaq: MU) has announced its fiscal second quarter earnings conference call scheduled for March 28, 2023, at 2:30 p.m. Mountain time. Investors can access the live webcast at Micron's Investor Relations website. The presentation replays will be available for approximately one year following the event.
Micron is a leader in memory and storage solutions, emphasizing high-performance DRAM, NAND, and NOR products through its Micron and Crucial brands. The company plays a vital role in the data economy, enabling advancements in artificial intelligence and 5G applications.
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