Micron raises Q1 FY2024 revenue guidance to ~$4.7B, non-GAAP gross margin near breakeven

MICRON TECHNOLOGY INC

Revenue guidance raised to approximately $4.7 billion from $4.4B ± $200M; improved supply/demand and pricing.
Non-GAAP gross margin guidance improves from (4.0%) to near 0.0%, driven by better pricing.
Non-GAAP EPS loss narrows to approximately ($1.00) from previous ($1.07) ± $0.07.
GAAP gross margin also improves to (2.5%) to (2.0%), vs prior (6.0%) ± 2%.
Operating expenses guided higher to ~$1.10B GAAP, but non-GAAP OpEx ~$990M due to stock-based comp adjustments.

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