The US memory chip giant Micron Technology announced its financial report for the third quarter. Its performance exceeded Wall Street analysts’ expectations. The main benefits came from two aspects: The wave of intelligence has pushed up the demand for memory chips (mainly including memory chips and flash memory chips), while in the traditional personal computer and smartphone markets, the problem of oversupply of memory chips has eased.
Stimulated by the positive earnings report, Micron’s stock price rose 3% in after-hours trading in the US stock market (it was only slightly higher in the intraday trading session of the day). Compared with the beginning of the year, Micron’s stock price has risen by one-third. The most important driving force for this round of stock price rise comes from the industry wave of generative artificial intelligence. The market believes that the popularity of ChatGPT will lead to the prosperity of generative artificial intelligence technology and servers Development, thereby driving demand for memory chips from Micron Technology.
Regarding the financial performance, Micron Technology CEO Sanjay Mehrotra said that the recent accelerated popularization of generative artificial intelligence technology, artificial intelligence servers for memory chips and storage chips market pull, exceeded external expectations, but At the same time, the mainstream data center server memory chip market continues to remain sluggish.
Sanjay Mehrotra also mentioned that some customers continue to reduce memory chip inventory, which is conducive to chip price trends, which also brings confidence to the memory chip market.
During the global COVID-19 pandemic, consumers’ spending on smartphones and PCs has skyrocketed, which naturally also boosted orders for memory chips. The price of memory chips has fallen, and inventories in the hands of customers have increased sharply.
Kinngai Chan, general manager of Summit Insights Group, an investment research company in the US technology industry, said that they believe that the current round of memory chip inventory adjustments is over.
Chang Jingang said that by understanding the actual situation of the industry, he found a positive signal that the demand for memory chips has begun to stabilize. However, in the second half of this year, the demand for memory chips in the three fields of personal computers, smartphones and traditional servers will still maintain a certain Complexity.
In the third fiscal quarter, Micron Technology achieved sales revenue of 3.75 billion US dollars, exceeding Wall Street analysts’ average expectations of 3.65 billion US dollars. Revenue, which was basically in line with analyst expectations.
In terms of adjusted profit, Micron posted a net loss of $1.43 per share, missing analysts’ expectations for a loss of $1.58 per share.
