Micron Pursues AI Opportunity Despite Recent Financial Struggles
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Micron started fiscal 2024 with strong revenue growth and strategic focus on AI, despite recent financial challenges.
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Partnership with Nvidia on new HBM3e memory positions Micron to capitalize on over $1 trillion AI server retooling market.
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Micron aims to improve DRAM utilization rates to overcome high depreciation expenses and regain profitability.
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Export controls on AI chips present risks, but Micron's new memory products are not yet impacted significantly.
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Valuation discounts indicate upside potential if Micron leverages AI demand and positive operating cash flow.