Sees Q2 net capital expenditures $3B. Sees Q2 tax rate in mid-teens percent range. Sees FY26 tax rate in high-teens percentage range. The company said, “In closing, Micron (MU) will remain circumspect and flexible with all our spending, including operating expenses and capital investments. We are making disciplined investments in DRAM and are driving the ramp of HBM. In NAND, we are taking prompt and decisive actions to cut our capital spending and cut our wafer output to maintain supply discipline. We expect to deliver a substantial revenue record, significantly improved profitability and positive free cash flow in fiscal 2025.”
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