Micron Technology, Inc. - MU STOCK NEWS

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.

Micron Technology (Nasdaq: MU) will participate in a fireside chat at Susquehanna’s Twelfth Annual Technology Conference on March 2, 2023, at 6:30 a.m. Mountain Time. The session will be webcast live, allowing investors and interested parties to tune in.

Those unable to attend the live event can access replays on Micron’s Investor Relations website. Micron is a leader in innovative memory and storage solutions, contributing to advancements in data economy and applications like AI and 5G through its DRAM, NAND, and NOR memory products.

On February 14, 2023, Quantinuum appointed Rajeeb (Raj) Hazra as its new CEO, succeeding Ilyas Khan, who remains a leader as Chief Product Officer and Vice Chairman. Hazra brings over 30 years of experience in quantum computing and supercomputing, previously serving at Micron Technology, managing a $12 billion P&L. His role aims to accelerate the organization's growth and innovation in quantum applications, addressing critical sectors like healthcare, energy, and climate change. Quantinuum, formed from the merger of Honeywell Quantum Solutions and Cambridge Quantum Computing, employs over 480 staff worldwide.

Micron Technology, Inc. (Nasdaq: MU) has appointed Raj Narasimhan as the new senior vice president and general manager of its Compute and Networking Business Unit. Narasimhan, who has been with Micron since 1995, will lead efforts in memory products targeting high-performance computing, AI, and cloud solutions. He takes over from Raj Hazra, who is leaving for a CEO role elsewhere after enhancing Micron's standing in the cloud and data center sectors. Narasimhan's extensive background in R&D and quality management positions him to drive innovation in areas like DDR5 and CXL, crucial for future technological advancements.

Micron Technology, Inc. (Nasdaq: MU) announced that its DDR5 server memory portfolio is validated on the 4th Gen Intel Xeon Scalable processors. This DDR5 memory delivers up to twice the memory bandwidth compared to prior generations, crucial for tackling potential processor bottlenecks. Notably, Micron’s DDR5 enhances performance across various workloads, including achieving a 49% performance improvement in SPECjbb benchmarking. Additionally, it incorporates reliability features like on-die Error Correction Code.