Micron Technology Inc Stock Price, News & Analysis

Micron Technology, Inc. (MU) has announced the launch of two new NVMe solid-state drives (SSDs): the Crucial P3 Plus Gen4 and Crucial P3 Gen3. The P3 Plus boasts impressive read speeds of up to 5000MB/s, while the P3 offers speeds of 3500MB/s. Each SSD can be purchased in capacities of up to 4TB. These products aim to meet the needs of gamers, creatives, and professionals seeking high-performance storage solutions. Availability is expected for summer 2022, enhancing Micron's product portfolio in the competitive SSD market.

Micron Technology, Inc. (Nasdaq: MU) announced a $200M investment in deep tech startups through its Fund II, raising total assets under management to $300M. This initiative is part of Micron Ventures' commitment to fostering innovation, with 20% of the capital aimed at startups led by women and underrepresented groups. Since its inception, the venture capital arm has invested in 25 startups, achieving strong returns and contributing to sectors like AI and sustainability. Such investments provide strategic benefits, enhancing Micron's market capabilities.

Phison Electronics Corp. has announced a strategic collaboration with AMD and Micron to develop a PCIe Gen5 ecosystem, aimed at enhancing gaming and creative experiences. The initiative will feature Phison's PS5026-E26 SSD controller, boasting nearly double the performance of its predecessor while maintaining power efficiency. This collaboration is expected to greatly benefit the global markets for PCs, gaming consoles, and mobile devices due to rising demand for high-speed storage solutions.

Micron Technology (Nasdaq: MU) announces a milestone of surpassing 50,000 lifetime patents, solidifying its status as a leader in technology innovation. This achievement highlights the contributions of over 4,000 team members across 16 countries in Micron’s 43-year history. In 2021, nearly 1,500 employees contributed to a record of 2,600 patent grants, reflecting a growing commitment to diversity in innovation. As the demand for memory and storage surges, Micron aims for the next 50,000 patents to drive future breakthroughs.

Micron Technology, Inc. (Nasdaq: MU) has commenced volume production of its 16Gb GDDR6X memory, now shipping in the NVIDIA GeForce RTX 3090 Ti graphics card. This new memory offers double the capacity and 15% higher performance compared to the 8Gb version, with speeds reaching up to 21Gb/s and a roadmap extending to 24Gb/s. Enhanced bandwidth enables better performance in demanding applications like gaming and content creation. Micron's innovative PAM4 signal techniques improve power efficiency, setting them apart in the high-performance memory market.

Micron Technology, Inc. (Nasdaq: MU) announced the appointment of Courtney Geduldig as corporate vice president for public affairs, effective April 7, 2022. Geduldig brings extensive experience in regulatory and public affairs, previously serving roles at Chime Financial and S&P Global. David Moore, Micron's chief strategy officer, emphasized the importance of her leadership during a critical time for government relations. Geduldig aims to enhance public-private partnerships to support economic growth, national security, and technological innovation, reinforcing Micron's commitment to memory technology.

Micron Technology, Inc. (Nasdaq: MU) has appointed Mark Murphy as the new Executive Vice President and Chief Financial Officer, effective April 18, 2022. With 25 years of financial leadership experience, Murphy aims to drive Micron’s financial strategy during a period of anticipated growth in memory and storage solutions. Previously CFO at Qorvo, he has held senior roles in various semiconductor companies. Interim CFO Sumit Sadana will return to his role as Chief Business Officer following Murphy's appointment. This leadership change is expected to enhance Micron's operational and financial performance.

Micron Technology (Nasdaq: MU) reported strong fiscal Q2 2022 results, achieving $7.79 billion in revenue, up from $7.69 billion in Q1 2022 and $6.24 billion year-over-year. GAAP net income was $2.26 billion ($2.00 per diluted share), while non-GAAP net income reached $2.44 billion ($2.14 per diluted share). Free cash flow for the quarter exceeded $1 billion. The company anticipates Q3 2022 revenue of $8.7 billion ± $200 million and a gross margin of 47.0% ± 1%. A quarterly dividend of $0.10 per share was also declared.