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Micron Issues Strong Outlook, Points to Multi-Year Opportunity in AI

publication date: Mar 28, 2024
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Image Source: Micron. 

Micron operates in the ultra-cyclical semiconductor industry, and while the next few quarters may be robust, we’re cautious on the sustainability of the momentum and pricing health beyond the next few quarters, despite management’s optimism in fiscal 2025. Free cash flow has also been negative during the first six months of its fiscal year, and its net debt position precludes it from being a net-cash-rich, free-cash-flow generating powerhouse like so many other companies in the technology space. All things considered, we liked Micron’s quarterly report and outlook, but it’s not enough for us to pull the trigger on the idea for the Best Ideas Newsletter portfolio.


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