Tag: micron,
Micron To Cut 10% of Workforce As Demand For Computer Chips Slumps
Micron, which had already announced factory output reductions, is cutting its budget for new plants and equipment, and now expects to spend from $7 billion to $7.5 billion for the fiscal year, a decline from an earlier target of as much as $12 billion. The company is slowing the introduction of more advanced manufacturing techniques and predicts that spending on new production will fall throughout the industry. […] In addition to its planned workforce reductions, the company has suspended share repurchases, is cutting executive salaries and will skip companywide bonus payments, executives said on a conference call after its results were released. Micron said sales will be about $3.8 billion in the fiscal second quarter. That compares with analysts’ average estimate of $3.88 billion, according to data compiled by Bloomberg. In the three months ended Dec. 1, Micron’s revenue declined 47% to $4.09 billion.
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Micron in cost-cutting mode after dismal Q1. What awaits in 2023?
The demand slump facing the electronics industry aggravated this year, mainly due to economic uncertainties, and it is affecting ancillary businesses like semiconductor companies also. The poor financial performance of […]
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Earnings Results: Micron sales could dive more than 50%, and more belt-tightening is expected before outlook improves
Micron Technology to cut 10% of workforce as chip market doldrums continue
Earnings: Micron slips to loss in Q1 2023; revenues down 47%
Micron Technology Inc. (NASDAQ: MU) slipped to a loss in the first quarter of 2023 from a profit last year, hurt by a sharp fall in revenues. The results also […]
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Micron To Spend Up To $100 Billion To Build a Computer Chip Factory In New York
New York’s Democratic governor, Kathy Hochul, also played a role, working to persuade Micron to bring its plant to Clay, a town near Syracuse, the Times reported. The performance-based incentive package from the state is valued at $5.5 billion and is tied to Micron’s commitment to create 9,000 new jobs as well as following through on the $100 billion investment. Micron must also meet certain sustainability standards to get the tax credits. According to a press release from Hochul’s office, an economic impact study by Regional Economic Models found the project will create an average of nearly 50,000 jobs in New York state per year over the first 31 years of its operation. It also estimated it would generate an additional $16.7 billion in real, inflation-adjusted, economic output for the state.
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Micron to build largest chip factory in US history
Chipmaker Micron Technology announced today it will spend $20 billion to build what it called the largest-ever US semi-conductor factory, and it may spend up to $100 billion over 20 years to expand it.
The fabrication plant, to be located in Onondaga County, New York, will be the size of 40 US football fields and is expected to provide close to 50,000 jobs for the region, including “9,000 high paying Micron jobs.” Once completed, the manufacturing facility is expected to drastically increase the domestic supply of memory chips.
Micron is spending up to $100 billion to build a megafab in New York
Micron Technology Inc (MU) Q4 2022 Earnings Call Transcript
Micron Technology Inc (NASDAQ:MU) Q4 2022 Earnings Call dated Sep. 29, 2022. Corporate Participants: Farhan Ahmad — Vice President, Investor Relations Sanjay Mehrotra — President and Chief Executive Officer Mark Murphy — Executive Vice President and […]
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