Micron Loses $2,312 Billion From Demand for DRAM and 3D NAND

Micron Loses $2,312 Billion From Demand for DRAM and 3D NAND

Mikron for the second quarter of the 2023 fiscal 12 months sent It noticed income declines of about 53% year-over-year and mentioned its earnings will fall additional within the ongoing quarter as demand for 3D NAND and DRAM stays weak. The corporate has needed to write off billions of {dollars} price of stock and says it would proceed to spend prudently however should lay off extra individuals than it deliberate this 12 months. However Micron is assured that reminiscence demand will skyrocket by 2025 because the world embraces extra computing.

Worst Setback in Years

Micron made $3,693 billion in Q2 of fiscal 2023 (ending March 2, 2023) — down from $7,786 billion in the identical interval a 12 months in the past, however nonetheless throughout the steerage the corporate set final quarter. Micron reported a $2.312 billion GAAP web loss because it needed to write off $1.43 billion price of 3D NAND and DRAM stock, and its gross margin fell to -32.7% from 47.2% in FY2022.

Regardless of a complete loss per share of $2.12, Micron declared a quarterly dividend of $0.115 per share to be paid in money on April 25, 2023.

(Picture credit score: Mikron)

Low common promoting costs (ASPs) as a consequence of oversupply stay the primary problem for the 3D NAND and DRAM industries. To considerably sluggish the bit output progress, Microsoft mentioned it has additional lowered DRAM and NAND wafer begins by ~25% 12 months over 12 months.

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