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Micron: Gut Punch to 2023 to Recovery Hopes

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Report Summary:

Micron delivered a lot of bad news during its earnings call and painted a bleak picture for 2023. The company's inventory situation worsened than anticipated. The company scaled back its CapEx plans for the next two years to cope with oversupply and a difficult pricing environment in memory markets. In this Insight, we analyse Micron's results, outlook, CapEx investments, inventory and implications for the broader semiconductor industry.

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