Micron Updates 1FQ24 Guidance

Micron Technology, Inc. is updating its revenue, gross margin, operating expense, and EPS guidance for 1FQ24, which ends November 30, 2023.

It previously guided revenue of $4.4 billion ±$200 million and non-GAAP gross margins of (4.0%) ±2%. As a result of improved supply and demand balance and improved pricing, it announced that it expects revenue will approach $4.7 billion and non-GAAP gross margins will approach breakeven for 1FQ24.