Micron Technology, Inc. - MU STOCK NEWS

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.

Micron Technology, Inc. (Nasdaq: MU) announced the volume production of its Micron 9400 NVMe SSD, designed for data centers handling demanding workloads like AI and ML. With a capacity of 30.72TB and a performance improvement of 77% in input/output operations per second (IOPS), it sets new standards for PCIe Gen4 storage.

The 9400 SSD also enhances energy efficiency, reducing operational costs and environmental impact. The drive is compatible with U.2 sockets and supports mixed workloads, improving performance in various real-world applications.

Micron Technology, Inc. (Nasdaq: MU) has appointed Mark Montierth as the new corporate vice president and general manager of its Mobile Business Unit, effective January 17, 2023. Montierth, previously vice president and general manager of high-bandwidth and graphics memory, will lead the development of mobile solutions to capture opportunities driven by the surging demand for data-intensive mobile experiences. He succeeds Raj Talluri, who contributed significantly to Micron's growth over five years and is leaving for a new opportunity. Montierth brings a wealth of experience, having launched several key products in his past roles.

Micron Technology, Inc. reported its fiscal Q1 2023 results, showing a revenue decline to $4.09 billion from $6.64 billion the prior quarter. The company faced a GAAP net loss of $195 million or $0.18 per diluted share. Adjusted free cash flow was negative $1.53 billion due to capital expenditures of $2.47 billion. Despite these challenges, Micron anticipates improved revenues in the second half of the fiscal year as customer inventories stabilize. The Board declared a quarterly dividend of $0.115 per share, payable January 19, 2023.

Micron Technology, Inc. (Nasdaq: MU) has launched the Micron 2550 NVMe™ SSD, featuring the world’s first NAND with over 200 layers, designed for mainstream laptops and desktops. This SSD enhances performance with significant power savings, improving application speed up to 112% compared to competitors. It boasts sequential read speeds of 5 GB/s and write speeds of 4 GB/s, surpassing the previous generation by 43% and 33%, respectively. The 2550 aims to extend battery life, making it suitable for daily computing.

Micron Technology (Nasdaq: MU) announced a 20% reduction in DRAM and NAND wafer starts compared to fiscal Q4 2022, responding to weakened market conditions. The company anticipates negative year-on-year bit supply growth for DRAM and minimal growth for NAND in 2023. These steps aim to manage inventory effectively. Despite current challenges, Micron remains optimistic about long-term demand in the memory and storage markets, expecting revenue growth to outpace the semiconductor industry as a whole.

Micron Technology (MU) announced that its LPDDR5X mobile memory has been validated for Qualcomm's Snapdragon 8 Gen 2 platform, marking a significant achievement in mobile memory technology.

With peak speeds of 8.533 Gbps, LPDDR5X is up to 33% faster than the previous generation, enhancing performance for high-end smartphones. Micron is now shipping this memory in mass production, facilitating the launch of smartphones that leverage these capabilities. The company is positioned as a leader in the semiconductor industry, aiming to drive innovation in 5G and AI applications through its advanced memory solutions.