Micron Technology, a leading memory-chip manufacturer, exceeded expectations in its fiscal second quarter and surprised investors with a profitable performance. The company’s strong results were buoyed by increased sales in artificial-intelligence infrastructure, propelling its stock upward.

Based in Boise, Idaho, Micron reported adjusted earnings of 42 cents per share on revenue of $5.82 billion for the quarter ending Feb. 29. This outperformed analysts’ projections, who anticipated a loss of 25 cents per share on revenue of $5.35 billion. In comparison, during the same period last year, Micron faced an adjusted loss of $1.91 per share on $3.69 billion in revenue.

Looking ahead, Micron provided optimistic guidance for the current quarter, projecting adjusted earnings of 45 cents per share on revenue reaching $6.6 billion. This forecast surpassed analysts’ expectations of 9 cents per share earnings on $6 billion in revenue for the fiscal third quarter. In the corresponding period last year, Micron reported an adjusted loss of $1.43 per share on revenue totaling $3.75 billion.

Despite facing five consecutive quarters of losses due to market fluctuations, Micron’s latest performance indicates a positive turn.

Following the earnings report, Micron’s stock surged over 13% in after-hours trading, reaching $108.90. In regular trading on Wednesday, it rose 2.4% to close at $96.25.

Micron’s CEO, Sanjay Mehrotra, attributed the strong results to the team’s effective strategies in pricing, products, and operations. He expressed confidence in the company’s product lineup and anticipated a robust second half of 2024, particularly emphasizing Micron’s position to benefit from the artificial-intelligence trend in the semiconductor industry.

The company’s stock has been on an upward trajectory this year amid hopes for a recovery in the memory-chip market, with a 65% increase over the past 12 months. Several Wall Street firms raised their price targets for Micron stock in anticipation of its earnings report, reflecting positive sentiment in the market.

Moreover, Micron is expected to capitalize on the growing demand for AI infrastructure spending, leveraging its high-bandwidth memory chips like HBM3e products. Competing with industry giants like Samsung and SK Hynix, Micron remains well-positioned to cater to data center needs with its advanced memory solutions.

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Micron has introduced two new tech products: a tiny flash storage device for phones and a big memory chip for Nvidia GPUs.

Micron, which makes and sells SSDs, created a flash chip that’s super small but packs a punch. It’s like a supercharged version of the standard UFS 4.0 device, only about the size of a fingernail (9 x 13 mm). This tiny chip can hold up to 1 TB of data using Micron’s fancy 3D NAND technology. It’s super speedy, reading and writing data much faster than older models. This means your smartphone apps can load quicker and run smoother. Plus, it can be used in cars too.

Mark Montierth, from Micron, said their new chip is all about making smartphones faster and more efficient. With this new technology, your phone can handle fancy AI apps much quicker, making chatting with bots smoother.

The new chip also comes with some cool new features:

1. High-Performance Mode (HPM): This makes sure your phone runs smoothly even when you’re doing a lot at once.
2. One Button Refresh (OBR): This helps keep your phone clean and running like new.
3. Zoned UFS (ZUFS): This helps your phone’s storage last longer by managing data better.

Micron is already sending out samples of their new chip, which comes in different sizes. And guess what? Big phone companies like HONOR and Samsung are already using Micron’s new tech in their latest smartphones.

Micron (MU) concluded the latest trading session at $70.85, representing a 0.77% increase compared to the previous day’s closing price. This performance surpassed the S&P 500’s marginal daily gain of 0.12%. In contrast, the Dow experienced a 0.2% decline, while the Nasdaq, which is heavily focused on technology, recorded a gain of 0.29%.

Leading up to today’s trading session, the chipmaker’s shares had surged by an impressive 7.62% over the past month. This substantial gain outpaces the Computer and Technology sector’s 2.32% increase and the S&P 500’s modest 0.09% rise during the same period.

Investors on Wall Street are keenly anticipating Micron’s upcoming earnings report, scheduled for September 27, 2023. Projections indicate an expected EPS of -$1.19, reflecting a substantial 182.07% decrease compared to the previous year’s quarter. Additionally, the latest consensus estimate foresees revenue of $3.91 billion, marking a notable 41.2% drop compared to the prior-year quarter.

It’s crucial for investors to take note of any recent modifications in analyst forecasts for Micron. These revisions often provide insights into the company’s near-term business prospects. Positive adjustments in estimates are generally viewed as favorable indicators for the company’s future performance.

Our research underscores the correlation between these estimate changes and short-term stock price movements. To capitalize on this relationship, we developed the Zacks Rank, a rating model that accounts for these estimate fluctuations and offers actionable insights.

The Zacks Rank system spans from #1 (Strong Buy) to #5 (Strong Sell), boasting an impressive, independently audited track record of success, with #1-rated stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate for Micron has remained unchanged, resulting in a current Zacks Rank of #3 (Hold).

The Semiconductor Memory industry falls within the Computer and Technology sector, and it holds a respectable Zacks Industry Rank of 112. This places it in the upper 45% of all 250+ industries analyzed by our research. The Zacks Industry Rank serves as a measure of industry group strength, determined by the average Zacks Rank of individual stocks within the sector. Our findings indicate that top-rated industries outperform the bottom half by a factor of 2 to 1.

The Chinese government recently took a significant step against an American semiconductor company Micron Technology with corporate headquarters in Boise, ID. The Cyberspace Administration of China announced that Micron, one of the largest producer of memory chips in the world, posed significant security risks to China’s critical information infrastructure supply chain. As a result, it ordered operators of critical national infrastructure to refrain from purchasing Micron’s products.

Experts believe that Micron became an apparent target for China due to its technology, which could be more easily replaced with chips from South Korean competitors such as Samsung and SK Hynix. In fact, just last month, the White House requested that South Korea’s chipmakers refrain from filling any market gap in China if the sale of Micron’s products were to be restricted.

China conveyed its decision to Micron during a meeting held in Beijing on Sunday.

Could this be backlash for the United States restricting Huawei products within its borders due to concerns over security risks? If you remember, the ban was implemented to protect the country’s critical information infrastructure from potential threats posed by Huawei’s technology. Several factors contributed to this decision.

One of the primary concerns is the alleged close relationship between Huawei and the Chinese government. There have been suspicions that Huawei’s equipment could potentially be used for unauthorized surveillance or cyberattacks, posing a threat to national security. The fear is that the Chinese government could exploit vulnerabilities in Huawei’s technology to gain access to sensitive information or disrupt critical networks.

Furthermore, the ban on Huawei products is also driven by concerns about intellectual property theft. The United States has accused Huawei of stealing trade secrets and engaging in unfair business practices, leading to legal disputes and a deterioration of trust between the two nations.

The US government has taken measures to protect its communication networks by restricting the use of Huawei equipment. These actions have included banning federal agencies from purchasing Huawei products and urging allies to follow suit. The concern is that relying on Huawei’s infrastructure could compromise the integrity and security of the country’s telecommunications networks.

Micron Technology, a company that makes computer memory, experienced a nearly 5% increase in its stock price during early trading on Thursday. The reason for this boost is Micron’s announcement that it will introduce an advanced technology called extreme ultraviolet (EUV) in Japan. This technology will be used to produce the next generation of dynamic random access memory (DRAM).

Micron, headquartered in Boise, Idaho, stated that it is the first chip company to bring EUV technology to Japan for manufacturing. The company will be assisted by its facility in Hiroshima. Micron plans to invest up to $3.63 billion in the process over the next few years, with support from the Japanese government. The aim of this investment is to facilitate further technological advancements, particularly in emerging areas such as generative artificial intelligence applications.

Micron’s President and CEO, Sanjay Mehrotra, expressed his pride in being the first to implement EUV technology in Japan. He emphasized the significance of developing and producing 1-gamma at the Hiroshima facility. Mehrotra also acknowledged Micron’s commitment to Japan, its strong relationship with the Japanese government, and the exceptional skills of the Micron Hiroshima team.

Extreme Ultraviolet (EUV) technology is an advanced manufacturing technique used in the production of semiconductor devices, such as computer chips. It involves the use of extremely short-wavelength light, specifically in the range of 13.5 nanometers, which falls within the extreme ultraviolet part of the electromagnetic spectrum. EUV light has much shorter wavelengths than the ultraviolet light used in conventional chip manufacturing processes.

EUV technology offers several advantages over traditional lithography methods. The shorter wavelength of EUV light enables higher precision and resolution in creating smaller and more intricate circuit patterns on silicon wafers. This allows for the production of denser and more powerful semiconductor devices. Additionally, EUV technology reduces the complexity and number of process steps required in chip manufacturing, leading to increased efficiency and cost-effectiveness.

Implementing EUV technology in semiconductor fabrication requires specialized equipment and processes. It involves using a powerful EUV light source to project a pattern onto a silicon wafer coated with light-sensitive materials, known as photoresist. The pattern is transferred onto the wafer, forming the intricate circuitry and structures that make up the semiconductor device.

EUV technology represents a significant advancement in the semiconductor industry and enables the development of smaller, faster, and more energy-efficient chips. It plays a crucial role in meeting the increasing demand for higher-performing electronic devices and paves the way for future technological innovations.

Starting in 2025, Micron plans to gradually incorporate EUV technology into its manufacturing processes in Taiwan and Japan, specifically in the 1-gamma nodes.

Rahm Emanuel, the U.S. ambassador to Japan, highlighted the importance of the partnership between Micron and Japan, stating that it represents a significant advancement in securing the semiconductor supply chain. Emanuel also emphasized the potential for economic growth and security through collaboration in cutting-edge technologies.

The announcement follows reports that Japanese Prime Minister Fumio Kishida was scheduled to meet with executives from various semiconductor companies, including Micron, to strengthen cooperation in the industry.

During a press conference on Wednesday, Chief Cabinet Secretary Hirokazu Matsuno emphasized that the semiconductor supply chain cannot be established by a single country alone. He stressed the importance of collaboration with like-minded countries and regions to achieve this goal.

The Justice Department recently made an announcement about a settlement agreement with Micron Technology Inc., a company that makes computer parts. The settlement is related to a violation of a law called the Immigration and Nationality Act (INA), where Micron discriminated against a U.S. citizen by not hiring him for a job and instead hiring someone with a temporary visa.

The Department started investigating Micron when a U.S. citizen complained that he was unfairly denied a job because of his citizenship status. The Department found out that Micron had wrongly preferred a temporary visa worker for the job, without properly considering the qualifications of the U.S. citizen. The INA, which is a federal civil rights law, says that employers cannot discriminate against job applicants based on their citizenship, immigration status, or national origin during any stage of the hiring process, unless required by law.

As part of the settlement, Micron has to pay a civil penalty to the United States and give back pay totaling $85,000 to the worker who was affected by the discrimination. Micron also has to train its staff on the INA’s anti-discrimination provision, change its policies and procedures, and be monitored by the Department for two years.

The INA is enforced by a section of the Civil Rights Division called the Immigrant and Employee Rights Section (IER). This law prohibits discrimination in various employment practices, such as hiring, firing, recruitment, and referral for a fee, based on citizenship status and national origin. It also addresses unfair documentary practices, as well as retaliation and intimidation.

Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division emphasized that companies cannot unlawfully discriminate against job applicants based on their citizenship or immigration status, and that the Department will continue to hold companies accountable for violating this federal civil rights law, regardless of their size.

In conclusion, the Justice Department reached a settlement agreement with Micron due to their violation of the INA by discriminating against a U.S. citizen during the hiring process. The settlement includes financial penalties, back pay to the affected worker, and requirements for Micron to train their staff, change policies, and be monitored by the Department. The INA, enforced by the Civil Rights Division’s Immigrant and Employee Rights Section, prohibits discrimination based on citizenship status and national origin in various employment practices.

Micron memory refers to a type of computer memory produced by Micron Technology, a global leader in semiconductor and memory solutions. Micron memory encompasses a range of memory products including dynamic random-access memory (DRAM) and NAND USB flash memory, which are essential components in various computing devices such as smartphones, computers, servers, and data centers.

DRAM is a type of volatile memory that provides fast and temporary storage for data that is being actively used by a computer. It is widely used in applications that require high-speed data processing, such as gaming, multimedia, and cloud computing.

NAND flash memory, on the other hand, is a non-volatile memory that retains data even when the power is turned off. It is commonly used for long-term data storage in devices like solid-state drives (SSDs), memory cards, and USB drives.

Micron’s memory solutions are known for their high performance, reliability, and energy efficiency, and are used by a wide range of industries, including automotive, consumer electronics, industrial, and enterprise markets, to enable advanced computing and data storage capabilities.

Micron announced the industry’s first 3D NAND memory device with 232 layers on Thursday. The company intends to use its new 232-layer 3D NAND products for a variety of applications, including solid-state drives, and expects to begin mass production of such chips in late 2022.

Micron’s 232-layer 3D NAND device has a raw capacity of 1Tb and a 3D TLC architecture (128GB). The chip is based on Micron’s CMOS under array (CuA) architecture and stacks two arrays of 3D NAND on top of each other using the NAND string stacking technique.

The CuA design, combined with 232 layers of NAND, will significantly reduce the die size of Micron’s 1Tb 3D TLC NAND memory, allowing Micron to price devices featuring these chips more aggressively or simply increase its margins.

Micron did not specify I/O speeds or the number of planes in its new 232L 3D TLC NAND IC, but it did state that the new memory will outperform existing 3D NAND devices, which will be especially useful for next-generation SSDs with a PCIe 5.0 interface.

Speaking of SSDs, Micron’s executive vice president of technology and products, Scott DeBoer, stated that the company has worked closely with developers of in-house and third-party NAND controllers (for SSDs and other NAND-based storage devices) to ensure proper support for the new type of memory (and make sure those upcoming drives end up in our best SSDs list).

“We optimized [232-layer 3D NAND] technology around what we need to make the world’s fastest managed NAND and both datacenter and client SSD products,” said DeBoer. “The combination of controllers, both internal and external, has been a strong element of our vertical product integration focus to ensure that we have optimized NAND and controller technology for what we need to deliver future leadership products.”

Among the benefits of its 232-layer 3D TLC NAND are Micron mentioned lower power consumption compared to previous-generation nodes, which will be another advantage given Micron’s historical focus on mobile applications and relationships with device makers.

Given that Micron will begin production of 232-layer 3D TLC NAND devices in late calendar 2022, we can expect SSDs powered by the new memory to arrive in 2023.

Micron Technology, Inc. (Nasdaq: MU) has announced the availability of a sample of the world’s first vertically-integrated 176-layer NAND solid-state drive (SSD) for data center applications. This new data center SSD features Micron’s industry-leading NAND with 176 layers of storage cells and proven CMOS-under-the-array technology for an ultra-efficient design.

Last year, organizations that used high encryption standards for data at rest and in motion paid 29.4 percent less for a data breach than organizations that used low or no standard encryption. Micron SSDs include self-encrypting drive functionality and Microsoft eDrive options to help protect against data breaches and tailor security to specific data protection needs.