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Micron Technology investor presentation dated March 2024.
FQ2 20242March 20, 2024Safe harbor statement
During the course of this meeting, we may make projections or other forward -looking statements regarding
market demand and supply, pricing, cost reductions, expected product volume production, expected product
announcements, future events or the future financial performance or expected financial projections of the
Company and the industry. We wish to caution you that such statements are predictions, and that actual events
or results may differ materially. We refer you to the documents the Company files from time to time with the
Securities and Exchange Commission, including the Company’s most recent Form 10 -K and Form 10 -Q.
These documents contain and identify important factors that could cause the actual results for the Company to
differ materially from those contained in our projections or forward -looking statements. These certain factors
can be found at investors.micron.com/risk -factor. Although we believe that the expectations reflected in the
forward -looking statements are reasonable, we cannot guarantee future results, levels of activity, performance,
or achievements. We are under no duty to update any of the forward -looking statements to conform these
statements to actual results.
This presentation includes Non -GAAP financial measures. Non-GAAP financial measures represent GAAP
measures, excluding the impact of certain activities, which management excludes in analyzing our operating
results and understanding trends in our earnings, adjusted free cash flow, and business outlook. Further
information regarding Micron's use of non -GAAP measures and reconciliations between GAAP and non -GAAP
measures are included in the Appendix.3March 20, 2024Sanjay Mehrotra
34March 20, 2024September 28, 2023
•In fiscal Q2, Micron delivered revenue, gross margin, and
EPS well above the high end of guidance. Micron has
returned to profitability and delivered a positive operating
margin a quarter ahead of expectation.
•Micron drove robust price increases as the supply -
demand balance tightened. This improvement in market
conditions was due to a confluence of factors, including
strong AI server demand, a healthier demand
environment in most end markets, and supply reductions
across the industry.•AI server demand is driving rapid growth in HBM, DDR5
(D5) and data center SSDs, which is tightening leading -
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