Micron Technology, Inc. is a leading provider of memory and storage solutions. Their primary revenue streams come from dynamic random-access memory (DRAM), NAND flash memory, and NOR flash memory products, sold under the Micron and Crucial brands. These products cater to various markets, including data centers, client PCs, graphics, networking, mobile devices, automotive, industrial, and consumer embedded applications. Micron holds a significant market position in the memory and storage industry, competing with major players like Kioxia, Samsung, SK hynix, and Western Digital. Their competitive advantage lies in their focus on technology leadership, manufacturing and operational excellence, and a diverse product portfolio. Micron operates globally, with manufacturing facilities primarily located in Asia, the United States, and Europe, and serves a worldwide customer base.

• Employees: Approximately 48,000 (as of August 29, 2024)
• Geographic Footprint: Asia, United States, Europe, Malaysia, China, India, Japan
• Headquarters: Boise, Idaho
• Founded: 1978
• Number of locations/facilities: Multiple locations worldwide
• Revenue: $25.11 billion (FY2024)
• Market Share: Information not available in 10k
• Key Subsidiaries/Brands: Micron, Crucial

• CEO: Sanjay Mehrotra
• CFO: Mark J. Murphy
• Board Chair: Robert E. Switz
• Other Key Executives: Scott R. Allen (Corporate Vice President and Chief Accounting Officer), April S. Arnzen (Executive Vice President and Chief People Officer), Manish Bhatia (Executive Vice President, Global Operations), Michael W. Bokan (Senior Vice President, Worldwide Sales), Scott J. DeBoer (Executive Vice President, Technology & Products), Michael Ray (Senior Vice President, Chief Legal Officer and Corporate Secretary), Sumit Sadana (Executive Vice President and Chief Business Officer)

• Annual Revenue: $25.11 billion (FY2024)
• Net Income: $778 million (FY2024)
• Market Cap: $83.6 billion (as of February 29, 2024)
• Total Assets: $69.42 billion (FY2024)
• Key Financial Highlights: Revenue increased 62% year-over-year, gross margin improved to 22% from negative 9% in FY2023, substantial improvement in pricing and margins throughout FY2024.

Micron Technology offers a diverse portfolio of memory and storage products, categorized by technology:

• DRAM: Dynamic random-access memory, offering high-speed data retrieval. Includes DDR, HBM, GDDR, and LPDDR variations, catering to data centers, PCs, graphics, and mobile applications.
• NAND: Non-volatile memory offering high capacity and low-cost storage. Used in SSDs, managed NAND solutions, and multi-chip packages across various markets.
• NOR: Non-volatile memory with fast read speeds, ideal for code storage and small data storage in automotive, industrial, and consumer applications.

Micron also provides system-level solutions combining these technologies with controllers and firmware, such as SSDs and managed NAND.

Micron operates through four key business segments:

• Compute and Networking Business Unit (CNBU): Focuses on memory products for data centers, PCs, graphics, and networking markets. Revenue: $9.51 billion (FY2024)
• Mobile Business Unit (MBU): Provides memory and storage for smartphones and mobile devices. Revenue: $6.35 billion (FY2024)
• Embedded Business Unit (EBU): Offers solutions for the automotive, industrial, and consumer embedded markets within the intelligent edge. Revenue: $4.61 billion (FY2024)
• Storage Business Unit (SBU): Focuses on SSDs and component-level storage solutions for data centers, PCs, and consumer markets. Revenue: $4.59 billion (FY2024)

Micron's business strategy centers around technology leadership, manufacturing and operational excellence, and a customer-centric approach. Key priorities include developing and producing advanced memory and storage technologies, expanding production capacity strategically, and collaborating with customers to meet evolving market needs. The company invests significantly in R&D, focusing on innovations like EUV lithography for DRAM and advanced NAND technologies, to maintain its competitive edge and drive future growth. Micron also emphasizes building strong customer relationships and tailoring solutions to specific market segments.

Micron operates in the highly competitive semiconductor memory and storage industry. Key trends impacting the business include growing demand for memory and storage driven by AI, data centers, and other data-intensive applications. Major competitors include Kioxia, Samsung, SK hynix, and Western Digital. The industry is subject to cyclical market dynamics and rapid technological advancements, requiring continuous innovation and adaptation.

• Volatility in Average Selling Prices: Fluctuations in memory and storage prices can significantly impact revenue and profitability.
• Intense Competition: The industry's competitive nature puts pressure on pricing and margins.
• Technological Barriers: Overcoming technological challenges in developing advanced memory and storage is crucial for future success.
• Supply Chain Disruptions: Dependence on a complex global supply chain exposes the company to potential disruptions.
• Geopolitical Risks: International operations, particularly in China, expose Micron to geopolitical and trade-related risks.