Micron Revises Revenue Outlook Thanks to Improved Pricing

Micron Technology has updated its revenue, gross margin, operating expense, and EPS guidance for the first quarter of fiscal 2024, which ends Nov. 30, 2023.
MicronMicron Technology previously guided revenue of $4.4 billion ± $200 million and non-GAAP gross margins of (4.0 percent) ± 2 percent.

Micron Technology today said it expects revenue will approach $4.7 billion and non-GAAP gross margins will approach breakeven for the first quarter of fiscal 2024 as a result of improved supply and demand balance and improved pricing.

Micron President and Chief Executive Officer Sanjay Mehrotra and Executive Vice President and Chief Financial Officer Mark Murphy will share further updates at the 2023 UBS Global Technology Conference in Scottsdale, Arizona scheduled to take place at 7:35 a.m. Mountain time on Nov. 28, 2023.