December 26, 2023 /SemiMedia/ -- Micron CEO Sanjay Mehrotra recently said that memory chip prices will rebound next year and the increase will continue until 2025. Micron's performance in 2025 is expected to hit new highs.
Micron's revenue in the last quarter (as of November 30) was US$4.73 billion, which was better than market estimates of US$4.58 billion, an annual increase of 16%; net loss was US$1.23 billion, which improved from a net loss of US$1.43 billion in the same period last year. Micron expects revenue for this quarter to be between US$5.1 billion and US$5.5 billion, better than market estimates of US$5.03 billion.
Micron's revenue forecast for this quarter was better than analysts' expectations, indicating that demand for data centers is helping to offset the slow recovery of the PC and smartphone markets.
Sanjay Mehrotra believes that memory chip prices will rebound next year and rise further in 2025. He reiterated that 2024 will be the year when the memory chip industry rebounds, and Micron will return to record levels in 2025.
Sanjay Mehrotra expects Micron's performance to improve in 2024 and is ready to embrace the huge opportunities brought by AI. In addition, the supply of PCs, mobile devices and other chips will be close to normal levels in the first half of next year.
