Micron Technology, Inc (MU) is facing challenges in its plans to build semiconductor fabs in Syracuse, New York due to environmental obstacles. The project, which aims to create thousands of jobs and increase domestic chip production, has run into problems with endangered bat species at the proposed site. Micron discovered two endangered North American bat species in White Pine Commerce Park, along with federally regulated wetlands and streams.
Due to environmental regulations, Micron is unable to cut down trees at the site until the bats hibernate in November, which has delayed the project. As a result, Micron’s groundbreaking is now expected to take place in 2025. Despite these setbacks, Micron’s project has received support from a preliminary Chips Act deal and incentives from New York State. The company plans to move forward with construction once state and federal reviews are completed.
In addition to its project in New York, Micron is also exploring the expansion of its high-bandwidth memory chip production in the U.S. and considering manufacturing in Malaysia. Analysts anticipate that Micron’s strength will continue into the fourth quarter, driven by pricing trends in DRAM and NAND memory. The expectation is that memory will continue to be in undersupply, leading to higher average selling prices, revenue, margins, and earnings per share.
At the time of writing, MU shares were trading lower by 2.26% at $149.98. This content was created using AI tools and is brought to you by Benzinga
