Micron Technology Inc Says Fiscal 2024 Capex Is Projected To Be Between $7.5B-$8B, Primarily To Support HBM3E Production Ramp
Portfolio Pulse from Benzinga Newsdesk
Micron Technology Inc. announced during a conference call that its projected capital expenditures for fiscal 2024 will be between $7.5 billion and $8 billion. This investment is primarily aimed at supporting the production ramp-up of HBM3E, a high-bandwidth memory technology.
December 20, 2023 | 9:18 pm
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Micron Technology Inc.'s projected capex for fiscal 2024 is set to be $7.5B-$8B, focusing on the production ramp of HBM3E technology.
Micron's significant capex projection indicates a strategic investment in HBM3E technology, which is likely to be viewed positively by investors as a commitment to growth in a high-demand sector. This could lead to increased investor confidence and a potential rise in stock price in the short term.
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