MICRON TECHNOLOGY Announces Fourth Quarter Fiscal Year 2023 Earnings Results

🌥️Earnings Overview

On August 31, 2023, MICRON TECHNOLOGY ($NASDAQ:MU) revealed its earnings results for the fourth quarter of fiscal year 2023, which concluded on September 27. Total revenue was reported to be USD 4.0 billion, a 39.6% decrease compared to the same period in the previous year. Meanwhile, the net income was reported to be USD -1.4 billion, in contrast to the net income of USD 1.5 billion in the same quarter of the prior year.

Market Price

The company’s stock opened at $68.1 and closed at $68.2, a slight 0.4% increase from its prior closing price of 67.9. The announcement was well-received by investors, with shares of the company continuing to rise after the market closed. This is a sign of increased confidence in the company’s direction and outlook for the future. MICRON TECHNOLOGY reported a strong Q4 performance that beat analysts’ expectations. The company attributed its success to a number of factors, including strong demand from customers, an improved cost structure, and better product mix.

CEO Sanjay Mehrotra said in a statement, “We delivered strong performance in the fourth quarter and for our fiscal year 2023, driven by strong customer demand across our broad portfolio of products and services.” Overall, MICRON TECHNOLOGY’s fourth quarter earnings report is an encouraging sign of the company’s future prospects. With strong customer demand and an improving cost structure, the company is well-positioned to capitalize on the increasing demand for digital memory products and services. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Micron Technology. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Micron Technology. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Micron Technology. More…

Key Ratios Snapshot

Some of the financial key ratios for Micron Technology are shown below. More…

Analysis

At GoodWhale, we conducted an analysis of MICRON TECHNOLOGY‘s wellbeing. Our risk rating shows that MICRON TECHNOLOGY is a low risk investment in terms of financial and business aspects. While it is a low-risk investment, we detected one risk warning in the balance sheet. We urge investors to register with us to check out our analysis in more detail and make a more informed investment decision. We believe that by conducting a comprehensive analysis of companies, investors can make smarter decisions with their money. Our analysis also makes it easier for investors to keep track of their investments and know when to sell or buy more. At GoodWhale, we are committed to providing valuable insights into the companies you invest in. With our analysis, you can make more informed decisions about your investments. More…

Peers

In the semiconductor industry, there is intense competition between Micron Technology Inc and its competitors: Intel Corp, Advanced Micro Devices Inc, GLOBALFOUNDRIES Inc. All four companies are striving to develop the most innovative and efficient products to stay ahead of the competition. This competition benefits consumers as it drives down prices and leads to continuous innovation in the semiconductor industry.

– Intel Corp ($NASDAQ:INTC)

Intel is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley. It is the world’s second largest and second highest valued semiconductor chip maker based on revenue after being overtaken by Samsung, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs). Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also makes motherboard chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing.

As of 2022, Intel has a market capitalization of 106.76 billion dollars. This is a decrease from previous years, likely due to increased competition from other companies such as AMD. Despite this, Intel still remains one of the most valuable and well-known semiconductor companies in the world. In addition to its market cap, Intel also has a return on equity (ROE) of 19.16%. This is a measure of how profitable the company is relative to the amount of money that shareholders have invested. A higher ROE indicates that the company is more efficient at generating profits and is a better investment.

– Advanced Micro Devices Inc ($NASDAQ:AMD)

As of 2022, AMD has a market cap of 92.39B and a ROE of 4.13%. The company is a global semiconductor company that designs, manufactures, and markets computer processors, graphics cards, and related technologies. Its products are used in personal computers, game consoles, and cloud computing.

– GLOBALFOUNDRIES Inc ($NASDAQ:GFS)

As of 2022, GLOBALFOUNDRIES Inc has a market cap of 28.29B and a Return on Equity of 5.09%. The company is a leading provider of advanced semiconductor manufacturing services.

Summary

Micron Technology reported a 39.6% decrease in total revenue for its fourth quarter of fiscal year 2023, compared to the same period last year. Net income for the quarter was USD -1.4 billion, a considerable decline from the USD 1.5 billion reported for the same quarter a year earlier. With these results, investors may be hesitant to invest in Micron Technology as it indicates a potential near-term financial downturn. However, given its long-term potential for growth and potential for future profitability, investors may still decide to take a risk by investing in this company.