Micron recorded $6,056 million in revenues in Q4, up from $5,438 million from Q3, according to press release. Net income rose from $941 million in Q3 to $1,229 million Q4. Solid Q4 performance attributed to strengths in DRAM shipments to cloud, game console, and PC customers. Yearly revenues are $21,435 million, down from $23,406 million last year. 

  • DRAM outlook
  1. CY-20 demand growth more in mid-teens percent range with supply constraints for 8 GB-based DRAM products
  2. CY-21 industry bit demand growth approximately 20% and disciplined industry capital expenditure to result in improving market conditions in 2H CY-21
  3. Long-term bit demand growth CAGR of mid-to-high teens
  • NAND Outlook
  1. CY-20 industry bit demand growth in the mid-20s, with supply and demand roughly balanced
  2. CY-21 industry bit demand growth approximately 30%; risk of some excess supply unless industry capital expenditure moderates
  3. Long-term bit demand growth CAGR approximately 30%
  • Q4 achieved company’s High-Value Solutions mix target
  • Company introduced industry’s first 1Z nm nod, the  first to market with mobile LP5 and GDDR6X products
  • Company started shipping replacement gate and drove significant revenues
  • Company halted shipments to Huawei on  14th September, expects to offset impact by end of Q2’21
  • Smartphone, auto, and consumer end-markets recovering
  • Cloud and laptop demand healthy
  • Short-term outlook and enterprise demand weakened due to low IT spending and higher customer inventories

Micron Technology stock closed on trading. MU: NASDAQ premarket is down 3.57%