MU: No Fundamental Improvement


$75 billion chip maker Micron (MU) reported earnings for the quarter ended August 31, 2023 after the close Wednesday. Results show no signs of a fundamental recovery in MU’s business. Revenue of $4.010 billion was -40% compared to a year ago and Non-GAAP EPS was -$1.07. MU forecast a similar current quarter with revenue of $4.400 billion and Non-GAAP EPS of -$1.07. There’s not much to like here and shares are currently -4% in the after hours.

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