Last week, $MU Micron Technology reported results:
Revenue was $4.01 billion, a 40% year-over-year decline from $6.64 billion (Q4 2022). Net loss was $1.43 billion, compared to a profit of $1.49 billion in Q4 2022.
For the full fiscal year 2023, revenue fell 49% to $15.54 billion from $30.76 billion in 2022. Net loss was $5.83 billion, compared to net profit of $8.69 billion in 2022.
The results reflect unfavorable conditions in the memory and storage market. However, according to management, Micron is well positioned for a market recovery in 2024 as it has maintained its technology leadership and launched new products. And they are already up a handsome +4% today.
I have the same approach as Matthias. It's definitely an interesting stock, but I probably don't need it in my portfolio.
Interesting stock, but probably won't find a place in my portfolio.
Micron is a great school for me in that I was naive enough to think that the cyclicality of memory demand would continue to shrink as the industry changed. But we can see beautifully in the results of all the manufacturers that this is not the case and I have no idea if it ever will be. The stock is definitely not for the faint of heart and as far as I can tell it has been completely sold out by both Li Lu and Pabrai.