After experiencing a strong downtrend at the start of September and trading near $87 through much of the month, Micron (NASDAQ: MU) stock suddenly exploded in extended session trading between Wednesday, September 25, and Thursday, September 26.MU stock 5-day price chart with the extended session rally. Source: FinboldTo be precise, MU shares ended the last session 1.88% in the green at $95.77% but then rocketed more than 15% to Micron’s price today, at press time, of $110.36. The uptrend started in after-ho ...

Micron Technology (NASDAQ: MU) has seen solid performance in the last year. Although the stock is currently up 33.88% year-to-date (YTD), a full 20% of those gains occurred over the past five days — and September 25 alone accounts for 12% of the upswing.Backtracking provides a clearer picture of MU’s price action in 2024. The stock spent the vast majority of the time in the green since the beginning of the year, reaching an all-time high of $153.45 in July.The following months saw a significant price revers ...

Financial Data and Key Metrics - Fiscal Q4 revenue was $7.8 billion, up 14% sequentially and 93% year-over-year [26] - Fiscal 2024 total revenue was $25.1 billion, up 62% year-over-year [26] - DRAM revenue in fiscal Q4 was $5.3 billion, up 93% year-over-year, representing 69% of total revenue [26] - NAND revenue in fiscal Q4 was $2.4 billion, up 96% year-over-year, representing 31% of total revenue [27] - Fiscal Q4 gross margin was 36.5%, up over 8 percentage points sequentially [28] - Fiscal 2024 operating income was $1.9 billion, with an operating margin of 8%, up 39 percentage points year-over-year [30] - Fiscal Q4 adjusted EBITDA was $3.7 billion, with an EBITDA margin of 48%, up 5 percentage points sequentially [30] Business Unit Performance - Compute and Networking Business Unit revenue was $3 billion, up 17% sequentially, driven by strong demand for high-capacity DRAM solutions and HBM ramp [27] - Mobile Business Unit revenue was $1.9 billion, up 18% sequentially, driven by seasonal product ramps [28] - Storage Business Unit revenue was $1.7 billion, up 24% sequentially, led by data center SSD, which reached a quarterly revenue record [28] - Embedded Business Unit revenue was $1.2 billion, down 9% sequentially, but automotive segment achieved a fiscal year revenue record for the fourth consecutive year [28] Market Performance - Data center revenue reached a record level in fiscal 2024 and is expected to grow significantly in fiscal 2025 [12] - HBM revenue in fiscal 2024 was several hundred million dollars, with expectations to deliver multiple billions of dollars in fiscal 2025 [13] - PC unit volumes are expected to grow in the low single-digit range for calendar 2024, with acceleration in the second half of 2025 due to AI PC adoption [17] - Smartphone unit volumes in calendar 2024 are on track to grow in the low-to-mid single-digit percentage range, with continued growth expected in 2025 [19] - Automotive revenue achieved a fiscal year record for the fourth consecutive year, driven by infotainment and ADAS demand [21] Strategic Direction and Industry Competition - The company is ramping production of 1-beta DRAM and G8/G9 NAND nodes, with 1-gamma DRAM pilot production progressing well for volume production in calendar 2025 [8] - Micron is investing in AI-driven demand, with a focus on HBM, high-capacity DIMMs, and data center SSD products [12] - The company is expanding its manufacturing footprint with new fabs in Idaho, New York, and India, as well as a back-end expansion in China [9] - Micron expects to achieve HBM market share commensurate with its overall DRAM market share by calendar 2025 [13] Management Commentary on Operating Environment and Future Outlook - The company expects a broadening of demand drivers in calendar 2025, complementing strong data center demand [7] - Micron anticipates a substantial revenue record with significantly improved profitability in fiscal 2025, starting with record quarterly revenue in fiscal Q1 [7] - The company expects DRAM bit demand growth in calendar 2024 to be in the high-teens percentage range, with NAND bit demand growth in the mid-teens percentage range [22] - Micron projects fiscal 2025 CapEx to be in the mid-30s percentage range of revenue, driven by greenfield fab construction and HBM investments [24] Other Important Information - Micron repurchased $300 million or 3.2 million shares in fiscal Q4 at an average price of $93.07 per share [32] - The company expects fiscal Q1 revenue to be $8.7 billion plus or minus $200 million, with gross margin in the range of 39.5% plus or minus 100 basis points [36] - Micron forecasts fiscal Q1 EPS to be $1.74 per share plus or minus $0.08 [36] Q&A Session Summary Question: DRAM and NAND bit assumptions for fiscal Q1 - DRAM bits are expected to be up somewhat higher than previously guided, while NAND bits are expected to be sequentially flattish [41] Question: HBM revenue in fiscal Q4 - The company achieved several hundred million dollars in HBM revenue in fiscal 2024, with expectations to deliver multiple billions of dollars in fiscal 2025 [43] Question: Gross margin drivers for fiscal Q1 - Gross margin expansion is driven by healthy supply-demand dynamics, favorable pricing, and product mix, with HBM being accretive to margins [46] Question: CapEx prioritization - CapEx remains focused on HBM investments and long-term fab construction, with no significant changes in prioritization [48] Question: HBM yield and market share - The company is confident in its HBM yield ramp and expects to achieve market share commensurate with its overall DRAM share by calendar 2025 [57] Question: HBM oversupply concerns - Micron assumes a third supplier will enter the HBM market but remains confident in its product leadership and tight leading-edge supply dynamics [60] Question: DRAM bit growth deceleration in 2025 - The deceleration in DRAM bit growth from 2024 to 2025 is due to a higher base in 2024 and inventory adjustments in PCs and smartphones [69] Question: HBM gross margin outlook - HBM gross margins are expected to remain accretive in fiscal 2025, with yields and productivity offering potential upside [67]

Micron (MU) reported $7.75 billion in revenue for the quarter ended August 2024, representing a year-over-year increase of 93.3%. EPS of $1.18 for the same period compares to -$1.07 a year ago.The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $7.64 billion. With the consensus EPS estimate being $1.10, the EPS surprise was +7.27%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

Micron (MU) came out with quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.10 per share. This compares to loss of $1.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.27%. A quarter ago, it was expected that this chipmaker would post earnings of $0.50 per share when it actually produced earnings of $0.62, delivering a surprise of 24%.Over the last four quarters, the company has surpassed con ...

Key TakeawaysMicron Technology shares surged in extended trading Wednesday as the memory chip maker's revenue and outlook blew past expectations.The Nvidia partner reported its fiscal fourth-quarter revenue nearly doubled year-over-year, driven by "robust AI demand."CEO Sanjay Mehrotra said the company expects current-quarter revenue to reach a record high. Micron Technology (MU) shares surged in extended trading Wednesday as the company's revenue and outlook blew past expectations. The memory chip maker an ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

BOISE, Idaho, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2024, which ended August 29, 2024. Fiscal Q4 2024 highlights Revenue of $7.75 billion versus $6.81 billion for the prior quarter and $4.01 billion for the same period last yearGAAP net income of $887 million, or $0.79 per diluted shareNon-GAAP net income of $1.34 billion, or $1.18 per diluted shareOperating cash flow of $3.41 billion versus $2.48 billio ...

(1) (2) Exhibit 99.1 FOR IMMEDIATE RELEASE | --- | --- | |------------------------------------------|----------------------------------------------| | | | | Satya Kumar Investor Relations | Erica Rodriguez Pompen Media Relations | | satyakumar@micron.com (408) 450-6199 | epompen@micron.com (408) 834-1873 | MICRON TECHNOLOGY, INC. REPORTS RESULTS FOR THE FOURTH QUARTER AND FULL YEAR OF FISCAL 2024 Achieved record data center revenue and NAND revenue in fiscal Q4 BOISE, Idaho, September 25, 2024 – Micron Tech ...

To gain an edge, this is what you need to know today.The Key To The AI TradePlease click here for a chart of Micron Technology Inc MU.Note the following:This article is about the big picture, not an individual stock.  The chart of MU stock is being used to illustrate the point.Micron is one of the three largest semiconductor memory makers in the world.The demand for high bandwidth memory for AI applications is rapidly increasing.The chart shows Micron's last two earnings and the market reaction.The chart sh ...