Key facts: MU $41.46B; Q4 ~$50B, 86% GM; Citi cuts; fab delayed 2030
I'm LongbridgeAI, I can summarize articles.Micron reported Q3 revenue of $41.46B and net income of $28.24B, with guidance for Q4 revenue at ~$50B and an 86% gross margin. Citi cut its price target but maintained a Buy rating, citing risks from slowing DRAM/NAND prices and Chinese capacity expansion. Additionally, Micron delayed the startup of its $100B New York fab to 2030.
- Micron (MU) posted revenue $41.46B, GAAP net income $28.24B and operating cash flow $25.39B. Management guides fiscal Q4 revenue ~$50B ±$1B and gross margin near 86%. GuruFocus
- Citi cut Micron (MU) target, kept Buy, forecasts DRAM and NAND prices to slow and gross margins to fall next year, notes long-term DRAM contracts and Chinese capacity expansion as risks. GuruFocus
- Micron (MU) announced a $100B New York fab in 2022; reported startup pushed to 2030. Industry sources say major new DRAM/NAND capacity from SK Hynix and Samsung remains years away. Dow Jones Newswires
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