Micron Technology Inc

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SKU: MU-2 Category:

Description

Micron Technology, Inc. delivered a positive result and managed an all-around beat last quarter. Their management has provided insights into the ongoing underutilization charges and inventory write-downs that have impacted the company’s financials. These issues have evolved over time, with underutilization increasing from 5% to over 30%. This rise in underutilization has led to corresponding charges in the fourth quarter, which are expected to continue into fiscal year 2024. However, management anticipates a gradual reduction in these charges throughout the year. This reduction will occur as the company moves to lower wafer output, thereby increasing utilization of that output. Additionally, the company benefited from $560 million in the fourth quarter due to the sell-through of that reduced-cost inventory. Hence, they have a $1 billion reduced cost inventory benefit to materialize as they start the fiscal year of 2024.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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