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Micron announces further production cuts to address poor NAND market outlook

Micron Technology, Inc. today announced that in response to market conditions, the company will adjust DRAM and NAND wafer starts to reduce them by approximately 20 percent compared to the fourth quarter of fiscal 2022, and that these reductions will be made at all technology nodes where Micron has meaningful output.

Micron is also working to achieve additional capital expenditure reductions. In 2023, Micron now expects negative year-over-year growth in its bit supply for DRAM and single-digit year-over-year growth in bit supply for NAND.

With a weakened market outlook for calendar year 2023 and a significantly higher total supply chain inventory, Micron believes that year-over-year growth in DRAM bit supply will need to be scaled back and growth in NAND bit supply will need to be significantly lower than previously estimated over the course of calendar year 2023, Micron said.

“Micron is taking bold and aggressive steps to reduce bit supply growth to limit the size of our inventory. We will continue to monitor industry conditions and make further adjustments as needed,” said Sanjay Mehrotra, Micron’s president and CEO.” Despite near-term cyclical challenges, we remain confident in the secular demand drivers in our markets and, over the long term, expect memory and storage revenue growth to outpace the rest of the semiconductor industry.”

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Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.
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