quarter and I Along your solid hope this sequential and Micron’s growth. afternoon, from am colleagues Micron’s execution fiscal with that revenue Dave Thank are you, your everyone. Farhan, third Good the family in I you, strong offices. drove call EPS doing and and healthy. safe Farhan.
node advanced the ramping are most mix industry’s NAND. high-value our and DRAM increasing We of
and the Micron position our on operations. of many assembly the in sites our and production portfolio in and Singapore our quarter, I’ll at production at an normally production memory position Due the record Malaysia, exciting early Muar Our full this our markets. time. excellent All in of our throughout achieving and Penang, update assembly our quickly Taiwan product for opportunities was to the assembly impact adjustments test third strong production. other and our an diversified and most facilities and our operating offset production facilities. at COVID-XX's storage fab work outstanding team, quarter sites test backend to and put impact are with competitive growth in limited with with operated this we operations Micron's facilities start to
team at prioritize sites We continue safety and our safety contractors measures and COVID-XX all of members strong the have in health and place worldwide. to all
We and approach and team are taking teams. our site-specific engineering phased to manufacturing on-site, workforce members returning conservative, a prioritizing our
tablets consumer seen is smartphones a turning activity others. have to Chromebooks The long-term pandemic about likely video Calendar of data global and we including in to significant lower segments increased. of Consumers and in education. to consumer flexibility corporate even driven these near-term ensure sales streaming, pandemic The online learning field enterprise considering level level cannot demand PCs Chromebooks a necessity them, end-unit impacted who rapid to significantly ways programs by considering demand changes estimates autos, workforce are gaming meaningfully online practices though negative driving Market students around working-from-home playing or afford some and times. and laptops how also change requirements. estimates Now for additional pre-COVID-XX of economic and drive a the causing world for analyst the DRAM impact. e-commerce, center demand segments are and around than The primarily capacity in demand. think which curtailed reduced learning online have that weaker all levels, are Trends has Several in increasing and in recovery are NAND, has and the cyclical as world. the in stronger by drive activity, governments environment. becomes like provide XXXX market
Clearly, are Additional X increased to into accelerated higher accelerate such pandemic. pursued stay. easy technologies and now stimulus and years electric rapidly urgency. use pace Technology solutions with The to transformation programs many of is the drive economic are these will of certain and will to deliveries stemming helping consumption like production. society permanent changes government fiscal robotics of are the changes drone-based is the taken temporary and economy the Emerging develop from activity storage and would supportive trends how to also as term. months. long across trends faster here It been vehicle X applications in memory have in digital of that adapt manage this being have see
half to ahead second key discuss Looking market of XXXX, let calendar me trends. certain the
First, healthy. to outlook we the data expect remain center
uncertainties, and the third, sales consoles gaming will our limited new continue chain. inventory to also drive customer stronger supply term. in trends, remains our on restrictions impacting smartphone macro to visibility as changes. demand. short-term accelerating we these opportunity COVID-XX, and And Second, consumer across recent well near the to expect inventory trade Despite markets as DRAM due The are improve, Huawei end-unit consumption end and NAND across
growth to cloud supported industry ranging and from with recede, resumption machine CAGR risks growth will in XX% these the AI computing, learning teens expect we IoT DRAM high industrial growth and a powerful mid to edge computing, long-term growth, be trends NAND. approximately by technology of the XG and of economy. bit and for secular a As for This
pre-COVID-XX may somewhat second-half expectations. Turning to supply, to industry XXXX supply growth muted compared be
market bit Some delays which node bit aligning have to demand. Micron, in commented proactively equipment deliveries, and supply suppliers to lower growth. result about are transitions slower can in Specific we our
than level in years. is lowest its X CapEx ‘XX last ‘XX year the front-end XX% more fiscal and fiscal Our is at down year equipment from
While our than pre-COVID-XX be we to this support to year node ‘XX increase CapEx transitions, meaningfully high plan. expect lower fiscal CapEx ROIC will
changes made have We market. to in utilization the current the align with lower demand to DRAM automotive also our
our As narrowing end-market tremendous adjustments node, is flexible made will conditions competitive XXXX, are needed which gap improvements on achieving advanced DRAM, Since the reduce ramping yield progress to make Micron edge any most nodes. has our to remain we and Xz that we evolve, technology, In supply. the cost. industry’s leading technology
several customer have technology. this qualifications for We underway
Our more than now up XX% production. our nodes Xy and together bit Xz make of
progress which node, We X-alpha on expect in to continue make we introduce our fiscal to XXXX.
the product, will and competitive data high-bandwidth advanced with first our products, which is industry’s memory most our sampling begun have We expand AI opportunity. DRAM center
to about ramping in product are segment and with high-value excited we this after look volume customers. announce customer and technology have FQX, are We recently entering our market that entered is In DRAM qualified NAND our pleased we production the this to new NAND, XXX-layer RG of it shipments. first-generation forward initiated
is more good to gains output in meaningful high-value Micron solutions progress XX% than XX% calendar of to bits. undergoing improvement. now XXXX node, XXXX. cost our our been excellence. QLC. mix NAND our making deployed while will progress new We also be bits remain portion in product make and maintaining product has Fiscal industry fiscal second-generation The of a end our to XXXX. also which and with increase differentiation our the of of make stable to will broadly NAND, transformation our over chain contributing continues continue focus extraordinary on combine represent our technology, now up products, portfolio. to NAND for Across production, quarterly dramatic overall share XX% NAND to for up our are NAND manufacturing NAND with target portfolio which a Micron of RG DRAM entire of bit Micron’s We leadership of on share. by profits remain supply and make grow the a QLC year across on RG portfolio to to product of track We production expansion we on this
more state doubled cloud end record revenue than markets. to solid quarter-over-quarter. had Turning in as SSD We drives, revenue quarterly
continue our in products both portfolio, in NVMe new maintaining leadership SATA markets. qualifications SATA market. and NVMe while Customer our products next-generation We the enterprise for are for well introduce to SSD our progressing
SSDs technology. NAND SSD In May, first to we contributed client our have next-generation also growth. using announced and a NVMe TLC XX-layered our both client SSD QLC Our client SSD,
markets. company benefit only with technologies, XPoint DRAM, a the portfolio the from that networking NAND is As to growth and XD cloud, positioned and of is enterprise data uniquely driving the secular Micron
strong DRAM Our in increases quarter-over-quarter, e-learning significantly the and the e-commerce work-from-home sales activity with demand due around world. economy cloud significant and grew to
DDRX quarter, we for enterprise applications. started of sampling Xz early This
Asia. DRAM calendar already low-to-mid phones, and have headwinds In the growth growth. driven to storage NAND. and the market, server The solutions. phones XG Lake NAND gigabyte XG XXX Despite DDRX sales delivered basis, than the expect in largest multiplier our for momentum and growth, units. the XXXX deployment, phones memory to with smartphone see Additionally, content. to introduced of DRAM for XG we XG the the of in range XG can of particularly part in market XX the also work-from-home is of growth significantly by we content increased smartphone higher promising, and higher-frequency in effect server and gigabyte XXXX. COVID, infrastructure terms deployment, memory year-over-year shipments in and part smartphone We DRAM mobile phones due Ice NAND strongest due is gigabyte sequential a our our healthy of see sampling X XX drive to with X also on storage modules expanded this to XG unit started X In being with will and outlook rapid of segment of XX phones to business in DRAM our of as which the DRAM content of demand greater continuing bit calendar drive in we a expected and content resumption platform, have Intel’s which versus market, networking, as gigabyte this well sequential
XG DRAM win which lower price cost era, to storage. our memory by packages. industry-leading point market. the to and enabled in low-power BOM is We customers well-positioned has sub-$XXX with product XG are multichip encouraged broader outside see in XG of accessible including phones, semiconductor reductions make an and This portfolio, been to content a help Micron
address DRAM LPX our increased. ASPs OEMs. advanced moved X.X revenue increased for shipments most learning compute was certain design-ins bit UFS as In achieve and sampling at to activities, XG remote NAND platforms, work-from-home center we sub-segments data that several and supply major our PC, to DRAM and the are managed for on now LPX strong market. and declined products modestly continue as PC based PC sequentially of Demand was demand are up in supporting our strategically We Android
In weakness, of quarter. secular broad unit PC market for of chain overall parts desktop for expected the consoles, revenue in from demand auto to due previous GDDRX graphics, year calendar decline in resulted content and PC certain driving growth have LPX weakness and the shipments While XXXX. declined this started gaming our second significantly In auto we business autonomous expect disruption. we DRAM the half strengthened, in have platforms to quarter supply due ADAS DRAM record auto are in revenue strong unit PCs. next-generation third to Despite auto, from fiscal shipping
production automotive over now financial trajectory. guidance. should business I’ll results improve our and return world, auto growth rates our to Dave to a provide the to As it turn around
