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
- CY-20 demand growth more in mid-teens percent range with supply constraints for 8 GB-based DRAM products
- CY-21 industry bit demand growth approximately 20% and disciplined industry capital expenditure to result in improving market conditions in 2H CY-21
- Long-term bit demand growth CAGR of mid-to-high teens
- NAND Outlook
- CY-20 industry bit demand growth in the mid-20s, with supply and demand roughly balanced
- CY-21 industry bit demand growth approximately 30%; risk of some excess supply unless industry capital expenditure moderates
- 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%
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