year-over-year fiscal outstanding afternoon, Farhan. you, achieving solid and profitability. strong growth everyone. Good Thank results revenue delivered in Micron QX,
in product our us strong and profitability track robust record momentum and keep to year the XXXX. on fiscal to Our deliver portfolio revenue start
are achieving center MediaTek DDRXX continues along launching wins, GDDRXX We year graphics these excellent achieved for building us DRAM product solution, data are customer Micron's our DDRX major to SSD, secular end and our markets. focus position demand XXXX and The first products card. and Radeon integrated vertically significant shipping first We memory XXX-layer in and AMD's RX with for fiscal products strongly the low-power our our yields, with world's leadership validating including deepening product value now X-alpha shareholder rapidly beyond. our shipping industry-leading and technology our relationships, customer and significant NAND and introducing NVMe GenX ramping across advancements storage, to create on and 'XX our and
With ramp successful quarters X-alpha of NAND our these now of accounts major NAND nodes of and bit majority DRAM NAND the industry several DRAM production. ahead bit leading-edge The production the and XXX-layer and the are combination for end in across market of X-alpha the XZ of markets, represents technologies. we majority our of deployment products process DRAM XXX-layer
fiscal on these 'XX. sets advanced up Our year successful strong the for execution us nodes
our to We technology are decade. for next investing scale the also
map to XXXX in CMOS we replacement with maintain in leadership early many and X-gamma come. our transitioned to lithography with generations NAND, help gate have for QLC years existing immersion DRAM leadership. road for We our successfully in our maintain multi-patterning density And a have several EUV leveraging for are will leadership bit Integrating DRAM volume us to a planning scale technology node. on while and production to EUV expertise and
is leader Micron industry the being a quality ranking quality. two-thirds our technology leader, of with number one to customers us addition In in
and our to a challenges, deep supply manufacturing support network, ongoing NOR has partner customers innovation customers. Micron DRAM, and semiconductor suppliers have we chain with a supplier strategic and with strong its leader supply NAND to quality our As leveraged technology become as And related and continuity. global partnerships an
long-term a seeing around when over annual side, accounted five including the commitment XX% increase on collaboration and comes years of of the for from revenue. use significant supply planning, they On volume-based greater from XX% we agreements, of ago Today, agreements. customer are our revenue our
On we need have strategic manufacture secure agreements the supplier products. our side, components supply certain that entered of to we into to
a these us current expected the result improve As of XXXX. is gradually for of supply calendar these tight agreements, throughout components to
decades, the thanks revenue markets. to years data two diversity and of edge semiconductor review the to and industry Demand AI, we has rest trend storage over outpaced the the Memory continue us this intelligent extending broad, EV devices. let XG for of our expect last memory to user for storage the and end a come, to center adoption. Now and growing is to from and
In will build-out worlds even the and addition, of of often the referred to significant the offer as immersive due in virtual use opportunity memory more intensive Metaverse applications. these to storage
FQX, with in our Our qualifications we memory storage, very expect we BOM more and first and several market of growing new and and cloud by resurgence and SSDs. product and of. grew is HDDs and ongoing a of growth year-over-year markets. team's AI; achievements execution it a customer discuss is outstanding, the storage on over revenue new IT highlight the computing result data center and launches the Data Memory than I decade. continued quarter, largest the and investments. by proud I XX% of the of the displacement memory portion demand enterprise heterogenous server been as center as of as supported will portfolio for end product our are to broader storage achievements strengthening outpace some has these market next architectures; In workloads data-intensive the of fiscal
our In GenX been portfolio customers. data launched strong key center internally contributed the Our SSD with utilize and XXXXSSD strengthening along firmware, controller has DRAM first NAND. QX, qualified our product by the product we also This profitability. NVMe to NVMe already and to two developed
NVMe FQX in sales by center our Looking revenues ahead, in increased ramp strong driven SSD of we expect products. a data our SSD
as DDRX demand new product strong leading for in server launched In customers see 'XX. and launches calendar the prepare addition, we industry's
expectations and While ongoing products. from non-memory strong, sequentially with PC declined component production in last inventory demand Consistent is the NAND inventory our us, at remains impact earnings largely of PC signs call, of PC end we behind adjustment our clients related and shortages customers due seeing adjustments in are end in and we customer DRAM now market. the most this articulated the stabilization revenue to demand
should in This work calendar shift we higher to invest to line PCs as year PC to in As be year XXXX, those is calendar we Mix with unit of projected enter XXXX. XXXX companies sales calendar for year be projected of expect environments. support shipments hybrid DRAM and PC enterprise demand PC NAND the of become mix majority increase of grown average five industry and unit is XX% has PC PC Low-power market content. in today the to bit the the DRAM DRAM in to years.
this our solutions DRAM, OEMs memory DDRX supply as we PC production demand the products benefit well first impacting due positioned is to at modules. well PCIe several client In XXX-layer from trend. significantly Across in ability low-power qualifications component industry-leading DDRX are revenues memory. shortages build achieved and exceeding volume non-memory PC for SSD to suppliers' we our Given FQX, of as our industry, GenX to DDRX for
to of XXXX, to XXXX. through shortages in moderate these DDRX shipments bit calendar to grow enabling expect levels half the meaningful We of second
and solutions Micron sequentially to are suppliers. advantage fast-growing with industry-leading of product product market, increased the an our with year-over-year. broad In graphics for a our excellent We DDRX GPU this transition revenue holds and the position portfolio proprietary PCs. take partnerships poised featuring GDDRXX We with line leading
to Our were units of entire applications proprietary strengthen, GDDRXX year-over-year. phones, continues of including increased XXX to the success, FQX, revenue XXX XG graphics and mobile calendar demand than DRAM recent XG integration the our to continued and we storage the than pleased forecast more XG, memory announce availability value for XX% RX XG XX% have XXXX high-end memory 'XX. XG solutions continues GDDRX to Mobile sales are in versus year to AMD's market. NVIDIA's million to content memory transition on more GDDRX the In and gaming units smartphone extending calendar market phones. on higher with cards. forecast from 'XX, card, content-hungry million had gaming FQX double Radeon year which supported NAND exceed by
as mobile from benefit expect innovation content applications. continue XG-enabled XG phones in further We to increasing
was several year in last and in leadership industry-first validated DRAM, our Micron's MediaTek, demonstrating Following sampled with FQX, further market. mobile X-alpha-based the world's mobile fastest LPDDRXX, the
end-consumer positioned to a shortages these as demand. production and markets We decade end well share be year non-memory expect industrial we revenue of storage below near term, over leader to next from unit markets. and significantly our the and be are flat 'XX In XX% the calendar with exceptionally the component are year-over-year, limiting automotive coming market auto fastest-growing memory over
of year-over-year However, in-vehicle as remained our a accelerates. strong content growth EV from XX% especially which FQX rapidly, applications, infotainment driver as and assistance revenue growth adoption are at auto advancing result
EVs like New NAND. center of gigabytes terabyte on year a and are wheels, examples model already level examples with XXXX over are three over seeing of XXX supporting we capability becoming X DRAM EVs and with autonomous data also of
in entered non-memory home continued in In automotive shortages XX% content year-over-year such We applications VR revenue saw than 'XX fueled our market with we year-over-year to factory and applications security to the such In UMC into as year our ease. customers auto automation IoT, a headsets industrial ramp calendar supply unit addition solutions as XX% systems. to smart increase production we driven NAND improve strengthens In new consumer than growth, to 'XX. with growth, we agreement and ability continued revenue as more more component saw IoT, by devices. as demand growth, year expect support calendar by
infrastructure. accelerate data-intensive We by applications further of expect IoT demand powered adoption speeds to XG intelligent as the edge trends
view growth and unchanged is and largely demand Our supply last XXXX XXXX calendar quarter. of industry from calendar bit
the low XX% XXXX growth to bit growth bit industry We and XX% DRAM demand expect to in be range in the calendar industry range. high be NAND demand
be customer in by end some automotive data of be led view demand each. anticipate demand We CAGRs deployments, strength in have industry of across out in the calendar pushed growth XXXX and many constrained underlying the demand to calendar NAND, line growth mid our center long-term for with XG for markets. volume XX% to DRAM bit server expect teens and and in bills approximately increasing shipments continued high and bit for We XXXX supply demand markets. Non-memory mobile shortages industrial to
While these demand expect growth. cause memory ease our shortages storage demand, some them through variability XXXX, to and supporting may we to
Turning to year. for the supply expectations bit our
very healthy demand. balance Micron's with year supply be will lean 'XX. bit Given prudent line we industry growth in NAND and CapEx year a expect and in supplier for DRAM calendar calendar industry inventories, industry supply-demand
aided non-memory will bit of half to growth of the stronger product second our customer demand, our with second and DRAM the planning X-alpha supply 'XX, shipments record fiscal by year easing year. shipment with are in solid shortages be NAND-based on of half bit impact together profitability and the deliver The on We fiscal revenue with additional component in products. qualifications XXX-layer stronger
As the expected reductions. X-alpha providing DRAM 'XX, XXX-layer us in with continued ramps good are front-end cost fiscal NAND of year and
before, supply expect costs, term. efforts mentioned business and industry be continuity to over customers to year and we long for assembly our bit competitive in with consistent Overall, are we the with per our fiscal headwinds and the the increase 'XX packaging As resilience annual to cost our reductions chain provide industry. broader
Turning to capital expenditures.
range to in We CapEx billion. of year 'XX the $XX fiscal $XX billion expect
of with the to middle and DRAM through we decade. both growth alone bit achieve supply For no NAND, the plan transitions
need the Beyond capacity add anticipate this time DRAM. horizon, for greenfield we to wafer
$XXX to the meet capacity to However, announced R&D. without sufficient industry our over we the intent growth, memory invest demand globally need for our manufacturing scaling We next continued be billion expect wafer growth XD additions. decade leading-edge than in recently NAND for more supply to and
our to it we over plans world, these These R&D, future persistent memory establish memory in investments. part Atlanta. long-term will to design in generate ability state-of-the-art consider our I with forward the storage support and U.S., look to As to We as announced now Dave. governments demand reflect commitment center investing returns including our the expansion. confidence to of sites and a on in we growth to for in turn around working announcements