afternoon. Farhan. Thank you, Good
today. are delivered calling unprecedented the quarter. COVID-XX your second and you am are as to including halfway In our began even times, home at range, strong revenue high results, Micron’s unfold I and we the end fiscal guided of These crisis safe. our quarter, from through all hope of I families
is evidence free Micron. marked positive the of from of for and new achieved XX a the represents cash improvement quarters. historical This now performance cycles strength flow have We consecutive
macroeconomic signs concerns. the proactive members countries of from has we The the earliest pandemic of team our all more emergence around business employees and has COVID-XX Since XX taken Micron have operational and the the Micron world. have than challenges XX,XXX safeguard created local both China, outbreak measures possible, travel Where working home, and employees. suspended are in globally. we international to in
at screenings all among at We mitigate globally the to locations. schedules. industry to sites blue teams manufacturing community health were red with risk operate the the implemented teams protocols that on first spread, We all Micron implement and physical alternate in our separation of
We have of been observe requiring measures self-declaration or contractors, sea and after their families any days as spread, this has members, team work-from-home air immediate and travel. self-quarantine crisis whereby XX
are At with novel we have contact and As were for who of have two receiving contact quarantine tested positive the either individuals employees yesterday, the where who member. used sites have tracing infected in appropriate we coronavirus medical two attention. close have we team confirmed cases, to
protocols. implemented also distancing, access, social We restrictive have on-site more and of service controls
have not events our far. As a impacted these measures in operations preventative result manufacturing stringent place, of thus
raw measures have our to taken also materials flexibility. increase We chain and supply protect our supply
ongoing continuity gaps. have and identify ensure our to we with in communication been First, suppliers close supply
of raw on-hand sites our materials more begun minimize on logistics increased we Second, to have our of any of store supply inventory impact that and to delays. have the
manufacturing captive and reduce focus have parts redundant contract multi-sourcing on dependence have we to test provide in capacity And at to supplier both of we manufacturing increased regions. fourth, our assembly our sites capability and Third, added risk. multiple
prolonged a shipments impact These orders which quarter. at orders of this with could result may our our spreads, or temporary COVID-XX global sites, we are shutdown complying As in all our sites. government
resulting in added of we semiconductors of Order, Malaysian the XXth, services, able in borders Subsequently, For Malaysian most were March businesses and example, list on the resume essential of the Malaysia. to government issued closure to Movement government and Restriction the a operations.
packaging very were NAND, able have basis, production shut been and compliance Our assembly since primarily briefly in test to and and facilities to Penang, limited local return down used on high-value Muar with regulations. for a in
to We and our global our commitments impact, are supply we using flexibility to and are to production network and mitigate customers. chain try increased this our working keep
in fiscal China quarter, headwinds data lower now reflected to significantly us of and sales. China, COVID-XX sell-through were impacting demand Weaker and consumer sharp In growth quarter. center offset decline the calendar our for to demand is on e-commerce, activity. demand. China’s was COVID-XX smartphone automobile in stronger and due consumer our increased effect in Turning unit customers’ economic in the second remote-work of factory electronics gaming, late shutdowns by first
Looking worldwide, looks quarter, regions and all center to the these as third strong also take leading trends in shape demand to supply data shortages. is
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Much on and stimulus containment government depends and the pace, rate, potential effectiveness of efforts.
a will and economic of trajectory its XXXX. an XXXX, into is few and This learn situation, fluid half months. a and calendar in improvement modeling the very over momentum We later the weeks are we further the impact about with the into its second virus, of rebound next economic economic more activity in spread,
modules as customer service well DRAM been both supply the as moving have to strength smartphone SSDs. markets changes our center Anticipating data demand, for from in we to
it raw inventory uncertain are customers their Just in increasing certain that like is increased our have products. NAND we DRAM materials and possible times, of similarly these inventory
demand with to to understand We customers and their proactive our manage closely and will with latest outlook. business action prudent work continue
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expect line demand to growth we For multiyear both supply the NAND, DRAM be industry’s with and growth our CAGR in CAGR.
to wafer deploy starts NAND at to replacement on gate. through capital Focusing our our as with utilization full the conversion year, operations the of run efficiently we reduced we continue XXXX, operations calendar DRAM beginning and returned to our
levels these on returned environment. the utilization we our demand remain near-term DRAM While full flexible to production, we to depending adjusting
delays COVID-XX. today. coronavirus support. in Node rapidly actions be field situation growth travel supply engineering service to disruptions including is evolving, and impact with and companies operations, indicated restrictions government combat XXXX some we could equipment transitions have calendar could in deliveries be due industry companies’ also of hindering to equipment equipment by impacted much and The to the see Recently, can disruptions than various larger
puts innovation conditions eventually us execution, industry period capitalize balance the and opportunities and combined rock-solid However, long-term on our with on normalize. of this continued once sheet navigate position in uncertainty to driving focus an excellent our our
as spend have us tremendous discussion, a away a few COVID-XX This underlying from of I we excitement products. we progress about strength to the on and contributing our source to minutes want Stepping for progress Micron talking to the of is a made is future. new the the technology and look
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this good on progress DRAM front are both NAND. making in We and
were bit XY expect half to volume the of introduce XZ we XZ and DRAM, summer the production on in XXXX. production In by our to first of over and be
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are also our progress making X-alpha good We on node.
NAND, current production expect begin gate, in In shipments follow quarter. to on progress to or RG, made our fourth revenue volume replacement with we our fiscal significant in quarter, our transition and
replacement meaningful that our expect a to of Micron year. NAND, calendar on total this gate served of helps HDDs. end production segments which and portion by to continues for QLC be target the SSDs NAND We are currently market costs supply lead by lowers us
rose shipments shipping XX% our technology. second a meaningful bit by fiscal our QLC SSDs now of our quarter, consumer QLC in portion sequentially with SSD with
market half in We to the second expect increases. continue of growing adoption QLC fiscal year as the
to over we track of this around we increasing bits, quarter, In figure the of on NAND mix in high-value drive bits significant made remain the progress NAND XXXX. fiscal second XX% and total on to to fiscal XX%
reduces fiscal and increases assembly profitability MCP these we and XX% drove led mobile mix quarter, SSDs. and share quarter the grew revenue record weakness in The experienced also product of growth. combined improvement by showed approximately test This revenue and SSD sequential constraints first the market seasonal than data COVID-XX, gains, center resolution the products strong our lines. in in greater in margins. growth our normal volatility sequentially, Despite had with in XX% strong the growth
turn Now let's to XD XPoint.
the XD XPoint with world is technologies, company marketplace. NAND only positioned a the Micron DRAM, in uniquely the in As of and portfolio
XPoint encouraged the in reception is XPoint portfolio fastest the customer with by the It our world. to start XXXX, the storage differentiated our product, customers. XD are We is in device great XD first which collaboration our of of built products a
market. this delivering data customers mature of to XXXX forward and this we a solution, center set XPoint As value the XD to year broader look we of the engaging
new agreement an a years, a relationship. that close previous continuation Early and in this partner XD entered ensures has agreements. important sale we new wafer Intel Intel replaces our been of March, with XPoint over into agreement the
assisted products In had and record turning NVMe SSD we SSDs, to revenue highlights markets. by consumer Now, by of growth SSDs. our QLC consumer
NVMe to newest bit transition several quarter XX-layer customer We we continue achieved product as SATA-based SSD. growth data center NVMe. SATA, SATA In the fiscal for our strong sequential expect we in third our portfolio qualifications in from
Xiaomi, the using LPX and LPX to customers, in XG-capable quarter, became XX first XGB we smartphones deliver the fiscal our configurations. second In which XXGB company DRAM mobile including is to Mi in its products
first examples world's products DRAM innovating UFS have is LPX customers of we enable and life the recently, to They sampling experience. are MCPs. how begun end-user battery image will processing. LPX These longer for high-performance the our DRAM-based smartphone Micron enhance More great
XG We and are important growth. driving accelerates, as smartphone adoption content UFS and LPX reigniting more will become encouraged even unit that sales
short with innovative, industry Micron our in consistent trailing strategy. gone two we our just from to mobile the first-of-a-kind years, the leading new portfolio competition In products, have product with
products measures. from in customers, our cloud In increased to the data by properties part for in and in benefitted use ongoing from enterprise requirements key cloud the strength due surge e-commerce, COVID-XX market, center containment such we as markets, remote-work online demand strong driven and of
In gigabyte to feature new strong market, GDDRX. deploy bit graphics of than increased the growth consoles hard are new place quarter-over-quarter, that gaming expected will SSDs GDDRX anticipate drives and consoles launch with the we shipments for of also the XX% time. more These in XX of first
bit and DRAM demand driven market, continued by declined PC shipments and the slow seasonal CPU sequentially, revenue shortages. In
Our also declined sequentially. sales client SSD
Micron we unit in auto in for market, record highest-quality auto auto now low-power to content the leverage products. continues makes sales, market In remains of revenue with automobile creating industry’s NAND Micron our delivered to approximately an market, the soft our strength DRAM strong half is market. Power growth the automotive the up and opportunity efficiency global revenue. DRAM LPDRAM in important lead DRAM. despite this increasingly as
record AI, and industrial learning and shipments had term, NAND. and importance DRAM both edge. compute the in of the the In IoT expect we market XG bit market, increases rolls longer at we the In as for growth the industrial secular out machine
I’ll over to Dave now financial turn and provide results it to guidance. our
