Micron Bullish On Coming Year
TORONTO — The president of Micron Technology is optimistic about the coming year for the company, which he said has diversified its market opportunities. “Our best times are in front of us.”
In a webcast from the Sanford C. Bernstein 31st Annual Conference earlier this week, Mark Adams said despite the difficulties in the PC DRAM market for the first half of 2015, Micron has a solid foundation in place to capitalize on its strengths and improve in other areas.
More broadly, Adams said the dynamics of the memory business have stayed the same fundamentally and that growth in capacity has been moderated relative to market demands with consolidation being good for the industry. “Overall the industry is doing well.”
Adam acknowledged general market pressures, especially the weak PC market, but for Micron specifically, the company is seeing its products in more diverse markets, with mobile surpassing expectations, as well opportunities in the enterprise and automotive markets.
Most people didn’t think mobile devices would need a gigabyte of DRAM, Adams noted, but now some devices boast three. Meanwhile, the NAND market has stabilized, and he said the PC DRAM market can’t be any worse in the remaining six months of the year than they were in the first. “Our suspicion is that people didn’t anticipate such a bad first year for PCs.” Adams expects the DRAM business to shift toward mobile in the latter half of 2015.