BOISE -- Micron Technology held its annual shareholders meeting Thursday and financial analyst Dave Petso says the Boise-based company had a great year.
"It has been an amazing turnaround for a company that lost a billion dollars last year to making a billion dollars this year," said Petso.
He says Micron has really moved itself into a competitive position and has almost $3 billion in cash. It's money that could be used to partner with a new company or buy out a competitor.
"But also chip prices are cyclical, and if they are not making money, they need to have that cash sitting in the bank so they can continue to make the necessary capital purchases down the road, even if they are not making the money quarter to quarter," said Petso.
Petso also said that Micron has hired several hundred people locally in the past year.