Micron Technology (MU)

After reducing our generally below consensus estimates for Micron (MU; $69.68; E/W) on five different occasions over the course of the past year, we think this may finally be the quarterly call where Street projections…

We adjust F2023E/F2024E (Aug) EPS for Micron (MU; $67.07; E/W) from ($4.50)/($2.10) to ($4.55)/($3.10) after a somewhat better than expected FQ3 (May). Also, FQ4 (Aug) guidance was not too far off from consensus even with…

Micron Technology (MU; $67.07; E/W) reported FQ3 (May) non-GAAP EPS loss of ($1.43), which was better than our ($1.58) and the Street’s ($1.61) on some sales upside ($3,752mm vs. our $3,600mm and consensus of $3,650mm….

We reduce our below consensus F2023/F2024E (Aug) EPS for Micron (MU; $67.66; E/W), ahead of its FQ3E (May) results and outlook, scheduled for June 28th (after market). Our model changes primarily begin to consider a…

It has now been well-reported that Micron (MU; $65.22; E/W) received notice yesterday from the Cyberspace Administration of China (CAC) that it believed its products presented a cybersecurity risk. This news comes after the CAC…

We reduce non-GAAP F2023/F2024E (Aug) EPS losses for Micron (MU; $59.28; E/W) from ($2.35)/($1.75) to ($4.35)/($1.95), including $1.9B of inventory write downs or the high end of our $1-2B estimate ($1.4B or $1.34 per share…

We are adjusting our F2023/F2024E (Aug) EPS for Micron (MU; $58.63; E/W), scheduled to post FQ2E (Feb) results next Tuesday (3/28 after market), from losses of ($2.30)/($1.55) to ($2.35)/($1.75) to “catch up” with management’s most…

Micron (MU; $54.87; E/W) provided an incrementally bearish update when CFO Mark Murphy, along with Manish Bhatia (EVP, Global Operations) presented at an investor conference earlier this morning. Basically, the detailed commentary provided yet another…

We reviewed Micron’s (MU; $50.40; E/W) recently filed 10-Q for the FQ1 period ending December 1st, which provided some further support for the idea that a longer than typical duration to the DRAM/NAND downturn and…

We make another round of major cuts to EPS for Micron (MU; $51.19; E/W) after FQ1 (Nov) results came in around the low end of targets and FQ2E (Feb) profitability guidance badly disappointed even against…

Micron Technology (MU; $51.19; E/W) reported FQ1 (Nov) non-GAAP EPS loss of ($0.04), which compared to our ($0.05) and the Street’s ($0.02) on sales of $4,085mm (vs. our $4,000mm and consensus of $4,134mm). Recall, we…

We take a “stab” at further reducing sales, gross margin and EPS estimates for Micron (MU; $53.64; E/W) off the latest wave of bad fundamental news, as per the company’s recent decision to cut DRAM…

This morning, Micron (MU; $60.00; E/W) announced that it is further cutting DRAM and NAND wafer starts by approximately 20% vs. FQ4 (Aug), which comes after the company previously announced plans to reduce NAND and…