Micron (MU) Could See A Turnaround Based On Earnings

Micron’s (MU) quarterly figures came in better than expected, suggesting a turnaround may be underway, notes Doug Astrop. He and Angelo Zino discuss the takeaways from MU’s 4Q earnings. Dough mentions that MU’s cash flow and margins have fallen substantially. MU is lower after a revenue decline and disappointing guidance. Angelo believes that MU is poised for a recovery through FY24 and sees prices improving through FY24 as MU ramps its next-gen high bandwidth memory. MU’s 4Q revenue came in at $4.01B versus an estimated $3.91B. Angelo notes that he could see MU reaching profitability/positive FCF by the middle of CY 24. They then go over names to watch in the semiconductor space. Tune in to find out more about the stock market today.