Micron Technology Inc Stock Price, News & Analysis

Micron Technology (Nasdaq: MU) and the Micron Foundation have announced a $10 million partnership with the U.S. National Science Foundation (NSF) to invest in semiconductor education at colleges nationwide. This joint investment, with NSF matching Micron's $5 million, aims to develop high-quality curricula and provide professional development for educators, while also offering students experiential opportunities in the semiconductor field. The initiative aims to diversify and strengthen the high-tech workforce, ensuring America's leadership in technology innovation.

Micron Technology plans to invest up to $100 billion over the next 20 years to build a state-of-the-art memory megafab in Central New York, creating nearly 50,000 jobs, including 9,000 high-paying positions within the company. This initiative, supported by New York's Green CHIPS legislation and the federal CHIPS and Science Act, includes a $500 million Green CHIPS Community Investment Fund aimed at workforce development, education, and affordable housing. Commitments extend to minority-owned businesses and sustainable practices, highlighting Micron's dedication to community enrichment and workforce transformation.

Micron Technology announced new firmware for its 7450 NVMe SSD that complies with the Open Compute Project Datacenter NVMe SSD 2.0 specification. This update enhances intelligent management and performance optimization, allowing for rapid resolution of data center issues. The 7450 SSD supports various form factors, including U.2/U.3, E1.S, and M.2, with capacities ranging from 400GB to 15.36TB. The SSD’s features are designed to improve latency and error recovery, addressing the needs of enterprise data centers and cloud-scale operations.

Micron Technology has announced plans to build a $100 billion semiconductor fabrication facility in Clay, New York, which will create nearly 50,000 jobs, including 9,000 high-paying positions at Micron. The investment is the largest in New York's history and aims to increase domestic DRAM production to 40% of the company's output over the next decade. Micron plans to initiate construction in 2024, with about $5.5 billion in incentives from the state. The company also committed to a $500 million community development fund aimed at workforce training and education.

Micron Technology reported fiscal Q4 2022 revenue of $6.64 billion, down from $8.64 billion in the previous quarter and $8.27 billion year-over-year. The company achieved a GAAP net income of $1.49 billion ($1.35 per diluted share) and record full-year revenue of $30.76 billion, up from $27.71 billion in FY 2021. For Q1 2023, Micron expects revenue between $4.00 billion and $4.50 billion. The company is making significant cuts to capital expenditures, nearly 50% compared to last year, to align supply with demand.

Micron Technology has initiated a historic $15 billion investment for a new memory manufacturing facility in Boise, Idaho, marking the first U.S. fab in 20 years. Construction begins early 2023, with DRAM production set for 2025 and ramping up through the decade. This project aims to boost U.S.-based DRAM production to 40% within ten years, creating over 17,000 jobs. The investment is supported by the CHIPS Act and emphasizes supply chain resilience and technological innovation, contributing to the memory market's expected revenue doubling by 2030.

Micron Technology (NASDAQ: MU) announced plans to invest roughly $15 billion through the end of the decade to build a new memory manufacturing fab in Boise, Idaho, marking the first such facility in the U.S. in 20 years. This investment, part of multiple U.S. projects following the CHIPS and Science Act, will create an estimated 17,000 new jobs, including 2,000 direct Micron positions. The fab aims to enhance domestic semiconductor supply for sectors like automotive and data centers, driven by increasing demand for AI and 5G technologies.

Micron Technology, Inc. (Nasdaq: MU) has scheduled its fiscal fourth quarter earnings conference call for September 29, 2022, at 2:30 p.m. Mountain time. The call will be available via live webcast on the company's investor relations website, and replays will be accessible for approximately one year.

Micron is recognized as a leader in innovative memory and storage solutions, focusing on transforming information usage and enhancing life through its DRAM, NAND, and NOR memory products.