Micron (MU) raises forecast on improved supply/demand balance and pricing
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'Take a breath, stay on the train' says Citi and expects this chipmaker to continue raising guidance
November 29, 2023 8:16 AM ESTChristopher Danely, an equity analyst covering semiconductors citi at Citi, reiterated a Top Pick on this chipmaker as the DRAM market upturn continues.
More specifically, Danely reiterated a Buy rating and raised the price target on Micron (NASDAQ: MU) to $88 per... More
Micron Technology (MU) Updates First Quarter Fiscal 2024 Guidance
November 28, 2023 9:01 AM EST(Updated - November 28, 2023 9:03 AM EST)
Micron Technology, Inc. (Nasdaq: MU) (the Company) today announced that it is updating its revenue, gross margin, operating expense, and EPS guidance for the first quarter of fiscal 2024, which ends Nov. 30, 2023. The Company previously guided revenue of $4.4 billion ± $200 million and non-GAAP gross margins of (4.0%) ± 2%. As a result of improved supply and demand balance and improved pricing, the Company today announced that it expects revenue will approach $4.7 billion and non-GAAP gross margins will approach breakeven for the first quarter of... More
