Micron Technology’s performance is better than expected, company executives say that next year’s chip shortage will slowly ease

Sina Technology News December 21, Beijing time, Micron Technology announced its first-quarter financial report, and its performance was better than Wall Street’s expectations, because data centers and electric vehicles require a large number of chips. Micron expects that its performance in the second fiscal quarter will still be higher than expected, and the chip shortage will ease in 2022. Micron has signed agreements with suppliers to resolve supply chain issues.

Micron produces NAND chips and DRAM chips. The former is used in the data storage market and the latter is used in data centers, PCs and other equipment. After the financial report was announced, Micron’s stock price rose 5.7% after the market, touching $87.70. Because the world needs chips, Micron can offer higher prices. According to Micron, revenue from data centers increased by 70% and revenue from the automotive industry increased by 25%. More and more cars are equipped with advanced driving safety systems, which require a large number of memory chips.

Micron Chief Commercial Officer Sumit Sadana (Sumit Sadana) pointed out that the shortage of non-memory chips is expected to gradually ease next year. The chip shortage has affected the shipment of cars and PCs. Sadana said: “The shortage situation will be slightly better at the beginning of next year. If you want to see a big improvement, it may depend on the entire 2022.”

Micron expects revenue in the current second fiscal quarter to be between 7.3-7.7 billion US dollars, and analysts’ estimates are 7.27 billion US dollars. Micron’s revenue in the first quarter was US$7.69 billion, higher than the US$7.67 billion expected by analysts.

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