secwatch.observer — SEC 8-K summary
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Issuer:     MICRON TECHNOLOGY INC (MU)
CIK:        0000723125
Form:       8-K
Filed at:   2023-11-28T23:59:59+00:00
Accession:  0001104659-23-121460
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723125/000110465923121460/0001104659-23-121460-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723125/000110465923121460/tm2331627d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-121460

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer