Citing a weakened market, Micron says wafer production for DRAM and NAND memory chips will be down about 20% over the past quarter; Micron’s stock fall 5%+ (Will Feuer/Wall Street Journal)

Reuters:
Sources: the US plans to spare SK Hynix and Samsung from the brunt of new restrictions on DRAM and NAND chipmakers in China planned to be released this week  —  The Biden administration plans to spare SK Hynix (005930.KS) and Samsung (005930.KS) from the brunt of new restrictions …

Sam Kim / Bloomberg:
South Korea’s trade ministry data shows its DRAM chip exports fell 24.7% YoY in August 2022, the biggest drop since 2019, indicating a deepening slump in demand  —  South Korea’s exports of its most lucrative memory chip fell by the most since 2019, indicating a deepening slump in technology demand central to global economic growth.

Yuvraj Malik / Reuters:
Micron plans to invest ~$15B in a new memory manufacturing fab in Idaho, spending a total of $40B in the US by 2030, with grants and credits under the CHIPS Act  —  Micron Technology Inc (MU.O) will invest about $15 billion over the next 10 years in a new memory-chip manufacturing facility in Boise …

Wall Street Journal:
Sources: Meta fired or disciplined more than 24 employees and contractors over the past year for allegedly taking over user accounts, sometimes for bribes  —  Some workers allegedly accepted thousands of dollars in bribes  —  Meta Platforms Inc. META -2.31%decrease; red down pointing triangle …

Wall Street Journal:
Sources: Lyft plans to cut 13% of its 4,000 employees, after previously cutting 60 people, or under 2% of its workforce, in July  —  Ride-hailing company to cut 13% of staff in second round of job cuts  —  Lyft Inc. LYFT -0.43%decrease; red down pointing triangle is cutting 13% of staff …

Mike Wheatley / SiliconANGLE:
Micron reports Q4 revenue down 25% YoY to $6.64B, from $8.27B, plans to cut total capital spending by 30% YoY and wafer-fab equipment spending by nearly 50% YoY  —  Reporting its fiscal fourth-quarter earnings today,Micron Technology Inc. warned investors that it’s planning to take drastic measures …