Micron Technology (MU)

Last week, we hosted an investor meeting for Micron’s (MU; $82.39; E/W) CFO Mark Murphy and the IR team during the Consumer Electronics Show (CES) in Las Vegas. The meeting largely focused on Micron’s DRAM…

We raise F2024/F2025E (Aug) EPS for Micron (MU; $78.69; E/W), after the full release of FQ1 (Nov) results and FQ2E (Feb) guidance, from ($1.60)/$3.60 to ($0.45)/$6.00 to better reflect its “extreme” supply discipline, which is…

The shares of Micron (MU; $81.79; E/W) are now up 20% since the company reported basically as-expected FQ4 (Aug) results on 9/27, including +12% over the past nine days, ahead of its full release of…

Micron (MU; $75.10; E/W) bumped up its FQ1 (Nov) non-GAAP outlook in conjunction with CEO Sanjay Mehrotra and CFO Mark Murphy presenting at an investor conference earlier this morning. Micron now expects FQ1E EPS losses…

We bump up our F2024E (Aug) EPS from a loss of ($2.60) to ($2.30) and raise F2025E EPS from $1.90 to $2.45 for Micron (MU; $68.21; E/W) after a basically as expected FQ4 (Aug) print…

Micron Technology (MU; $68.21; E/W) reported FQ4 (Aug) non-GAAP EPS of a loss of ($1.07), which was somewhat ahead of our ($1.18) and the Street’s ($1.15) on slightly better than expected sales ($4,010mm vs. our…

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…