723125--10/26/2007--MICRON_TECHNOLOGY

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We have experienced dramatic declines in average selling prices for our semiconductor memory products which have adversely affected our business. The semiconductor memory industry is highly competitive. We may be unable to reduce our per megabit manufacturing costs at the same rate as we have in the past. Depressed pricing for semiconductor memory products may lead to future losses and inventory write-downs. Our plans to significantly increase our NAND Flash memory production and sales have numerous risks. The future success of our Imaging business will be dependent on continued market acceptance of our products and the development, introduction and marketing of new Imaging products. We may be unable to generate sufficient cash flows to fund our operations and make adequate capital investments. We expect to make future acquisitions and alliances, which involve numerous risks. We may not realize the expected benefits of new initiatives to reduce costs and increase revenue across our operations. Our net operating loss and tax credit carryforwards may be limited. Changes in foreign currency exchange rates could materially adversely affect our business, results of operations or financial condition. New product development may be unsuccessful. An adverse determination that our products or manufacturing processes infringe the intellectual property rights of others could materially adversely affect our business, results of operations or financial condition. Allegations of violations of securities laws. We face risks associated with our international sales and operations that could materially adversely affect our business, results of operations or financial condition. If our manufacturing process is disrupted, our business, results of operations or financial condition could be materially adversely affected. Disruptions in our supply of raw materials could materially adversely affect our business, results of operations or financial condition. Disruptions in our supply of raw materials could materially adversely affect our business, results of operations or financial condition. Economic and political conditions may harm our business.

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723125--10/26/2007--MICRON_TECHNOLOGY_INC