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Barchart

Mark R. Hake, CFA

Micron Technology Stock Is Cheap Now With Its Return to Positive Free Cash Flow

Micron Micron Technology MU Barchart

Micron Technology (MU), the memory chip maker, delivered impressive results on June 26 for its fiscal Q3 ending May 30. Micron returned to generating positive free cash flow (FCF) despite increased capex spending. Moreover, the company said it expects to continue doing this.

The company expects strong results in the future from strong demand for memory chips related to enabling artificial general intelligence (AGI). It raised estimates for both revenue and capex spending. However, management expects to see positive free cash flow growth in Q4.

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