Micron Technology

Micron Technology, Inc. (Nasdaq: MU) is a global leader in innovative memory and storage solutions. Founded in 1978 and headquartered in Boise, Idaho, Micron has established itself as one of the largest semiconductor companies worldwide, with a market capitalization of USD 138.74 billion as of May 2024.

Micron's product portfolio includes:

• Dynamic Random-Access Memory (DRAM): Used in computers, servers, mobile devices, and other applications requiring high-speed memory.

• NAND Flash: Non-volatile storage used in solid-state drives (SSDs), memory cards, and other devices.

• NOR Flash: Non-volatile memory for applications requiring fast, random access to data.

• 3D XPoint Memory: A new class of non-volatile memory offering higher performance and endurance than NAND.

• Solid State Drives (SSDs): High-performance storage solutions for data centers, consumer devices, and enterprise applications.

Micron serves a diverse range of markets including data center, mobile, client, industrial, consumer, automotive, graphics, and networking. The company sells its products under the Micron and Crucial brand names through various channels including independent sales representatives, retailers, and distributors.

In fiscal year 2023, which ended August 31, 2023, Micron reported a net loss of USD 5.83 billion on revenue of USD 15.54 billion. However, the company has seen a significant rebound in demand, particularly driven by artificial intelligence (AI) applications. In its fiscal Q2 2024 earnings report, Micron reported revenues of USD 5.82 billion, a 57.7% year-over-year increase, exceeding analyst expectations.

Micron is actively investing in expanding its manufacturing capabilities in the US. The company has committed to investing up to USD 125 billion over two decades in New York and Idaho, including plans to build leading-edge DRAM fabs. These investments are supported by up to roughly USD 6.14 billion in direct funding under the CHIPS and Science Act, as announced by the US Department of Commerce in April 2024.