Micron Technology (MU) risk factors: FY2025 10-K

1. Volatility in average selling prices for our semiconductor memory and storage products may adversely affect our business.
2. Our gross margins may be adversely affected by a range of factors.

Read these in Item 1A · See the changes

1. We face geopolitical and other risks associated with our international operations that could materially adversely affect our business, results of operations, or financial condition.

Read these in Item 1A · See the changes

1. The semiconductor memory and storage markets are highly competitive.
2. Our future success depends on our ability to develop and produce new and competitive memory and storage technologies and products.
3. We may not be able to achieve expected returns from capacity expansions.

Read these in Item 1A · See the changes

1. Our incentives from various governments are conditioned upon achieving or maintaining certain outcomes and satisfying compliance requirements and are subject to reduction, termination, or clawback, and could impose certain limitations on our business.reworded

Read these in Item 1A · See the changes

1. Our business, results of operations, or financial condition could be adversely affected by the availability and quality of materials, supplies, electrical power, gas, water, and capital equipment, or dependency on third-party service providers.reworded
2. Downturns or ongoing adverse conditions in regional or worldwide economies may harm our business.reworded
3. If our manufacturing process is disrupted by operational issues, natural disasters, or other events, our business, results of operations, or financial condition could be materially adversely affected.

Read these in Item 1A · See the changes

1. A significant portion of our revenue is concentrated with certain customers and end markets.new
2. Increases in sales of system solutions may increase our dependency upon specific customers and our costs to develop, qualify, and manufacture our system solutions.
3. Products that fail to meet specifications, are defective, or are otherwise incompatible with end uses could impose significant costs on us.
4. Breaches of our security systems or products, systems failures, interruptions, delays in service, catastrophic events, and resulting interruptions in the availability of our systems or those of our customers, suppliers, or business partners, could expose us to losses.

Read these in Item 1A · See the changes

1. We may be adversely impacted by any of the multiple uncertainties and outcomes associated with the use and evolution of AI.AI
2. We must attract, retain, and motivate highly skilled employees.
3. Compliance with responsible sourcing requirements and any related regulations could increase our operating costs or limit the supply and increase the cost of certain materials, supplies, and services, and if we fail to comply, customers may reduce purchases from us or disqualify us as a supplier.

Read these in Item 1A · See the changes

1. Evolving sustainability and governance expectations or standards or failure to achieve our related goals could adversely affect our business, results of operations, financial condition, or stock price.reworded
2. Acquisitions and/or strategic transactions involve numerous risks.reworded
3. We may incur restructure charges in future periods and may not realize expected savings or other benefits from restructure plans.

Read these in Item 1A · See the changes

1. We may be unable to protect our intellectual property or retain key employees who are knowledgeable of and develop our intellectual property.
2. Legal, regulatory and administrative investigations, inquiries, proceedings, and claims could have a material adverse effect on our business, results of operations, or financial condition.
3. Claims that our products or manufacturing processes infringe or otherwise violate the intellectual property rights of others, or failure to obtain or renew license agreements covering such intellectual property, could materially adversely affect our business, results of operations, or financial condition.

Read these in Item 1A · See the changes

1. Government actions and regulations, such as export restrictions, tariffs, and trade protection measures, may limit our ability to sell our products to certain customers or markets, or could otherwise restrict our ability to conduct operations.Tariffs
2. Tax-related matters could have a material adverse effect on our business, results of operations, or financial condition.
3. We and others are subject to a variety of complex and evolving laws, regulations, or industry standards, including with respect to environmental, health, safety, and product considerations, which may have a material adverse effect on our business, results of operations, or financial condition.

Read these in Item 1A · See the changes

1. We may be unable to generate sufficient cash flows or obtain access to external financing necessary to fund our operations, make scheduled debt payments, pay our dividend, and make adequate capital investments.
2. Debt obligations could adversely affect our financial condition.
3. Changes in foreign currency exchange rates could materially adversely affect our business, results of operations, or financial condition.
4. We are subject to counterparty default risks.

Read these in Item 1A · See the changes

1. The trading price of our common stock has been and may continue to be volatile.
2. The amount and frequency of our share repurchases may fluctuate, and we cannot guarantee that we will purchase all of the shares under our share repurchase authorization, or that it will enhance long-term shareholder value. Share repurchases could also increase the volatility of the trading price of our stock and will diminish our cash reserves.
3. There can be no assurance that we will continue to declare cash dividends in any particular amounts or at all.

Read these in Item 1A · See the changes

Headings in the FY2024 10-K with no match this year.

1. A significant portion of our revenue is concentrated with a select number of customers.