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Tuesday, June 25, 2019

=Micron (MU) reported earnings on Tue 25 June 19 (a/h)

Micron beats by $0.26, beats on revs; Seeing early signs of demand improvement but will reduce 2020 CapEx spend
  • Reports Q3 (May) earnings of $1.05 per share, excluding non-recurring items, $0.26 better than the S&P Capital IQ Consensus of $0.79; revenues fell 38.6% year/year to $4.79 bln vs the $4.7 bln S&P Capital IQ Consensus.
  • "Micron's improved competitive position and strong execution helped us deliver solid results despite a challenging environment," said Micron Technology President and CEO Sanjay Mehrotra. "While we are seeing early signs of demand improvement, we plan to reduce our capital expenditures in fiscal 2020 to help improve industry supply-demand balance."

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