Micron (MU) says improved supply and demand environment in current quarter gives the co. additional confidence in the trajectory of their business

Intends to stay very disciplined with supply and capacity investments as pricing is still far from levels associated with necessary ROI.
Expect co. pricing to continue to strengthen through the course of 2024.
Inventories for memory and storage are at or near normal levels for customers across PC, mobile, automotive and industrial end markets.
FY24 CapEx expected to be between USD 7.5-8.0bln (exp. 7.57bln), primarily to support the HBM3E production ramp.
In pcs, MU forecasts unit volumes to grow by a low to mid-single-digit percentage in calendar 2024
Fiscal 2024 front-end cost reductions to track in line with long-term expectations of mid-to-high single digits in DRAM.
Demand for AI servers has been strong as data centre infrastructure operators shift budgets from traditional servers to AI servers
Sees fiscal 2024 front-end cost reductions to track in line with long-term expectations of low teens in NAND.
MU expects PC OEMS to start ramping AI-on-device pcs in the H224.
On track for volume production in 1-gamma DRAM using extreme ultraviolet lithography (euv) in calendar year 2025
On track to begin their HBM3E volume production ramp in early 2024
On track to generate several hundred millions of dollars of HBM revenue in FY2024.
MU forecast smartphone unit shipments to grow modestly in calendar year 2024.
Continue to work with US government, chips grants are assumed in our capex plans for fiscal 2024.
Expect supply-demand balance to tighten in both DRAM and NAND throughout 2024.
Expect customer inventory to approach normal levels in PC, mobile, autos, industrial end markets sometime in H1 calendar 2024.
Expects to decrease days of inventory in FY24.