The semiconductor boom of the last two years, in part fueled by pandemic shortages, appears to be coming to an end.
Memory-chip maker Micron Technology Inc. MU gave a downbeat forecast for its next fiscal quarter Thursday, predicting a massive revenue shortfall ranging from $1.5 billion to $2.3 billion, as COVID-19 restrictions in China and slower demand for consumer products hurt the sale of memory chips.Memory-chip maker Micron Technology Inc. MU gave a downbeat forecast for its next fiscal quarter Thursday, predicting a massive revenue shortfall ranging from $1.5 billion to $2.
“PC unit sales [are] now expected to decline by nearly 10% year over year from the very strong unit sales in calendar 2021,” Mehrotra told analysts. “This compares to an industry and customer forecast of roughly flat calendar-2022 PC unit sales at the start of this calendar year.” PCs are big consumers of DRAMs, and they are using more memory per system, especially Macs with Apple Inc.’s AAPL new M1 processor.
Enterprise and cloud-computing demand remains strong, Micron executives said, but they added that they are seeing some enterprise customers wanting to pare back some of their memory and storage inventory, due to shortages of other components and the macroeconomic environment. Piper/Sandler analyst Harsh Kumar said in a brief note after the call that “We suspect the bottom likely occurs in the February or May 2023 quarter.
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