A Look at Micron’s $10.5 Billion Capex for Fiscal 2019
Micron (MU) generated record cash flows in the fiscal fourth quarter, which contributed $2.1 billion toward its capital expenditure (or capex). Overall, the company’s capital spending reached $8.2 billion, or 27.0% of its revenues, in fiscal 2018 compared with $5.25 billion in fiscal 2017. This was below the company’s long-term target model of maintaining capital spending at 30.0% of its revenues.