Trending: Micron to Cut Production of Memory Chips by About 20%

Dow Jones2022-11-18

1323 EST -- Micron Technology Inc. is one of the most talked-about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. In response to market conditions, Micron said it will cut DRAM and NAND wafer starts by about 20% from the recent fourth-quarter level. The company is also working toward additional capital expenditure cuts. For 2023, Micron now expects its year-on-year bit supply growth to be negative for DRAM, and in the single-digit percentage range for NAND. "Micron is taking bold and aggressive steps to reduce bit supply growth to limit the size of our inventory. We will continue to monitor industry conditions and make further adjustments as needed," said Micron President and CEO Sanjay Mehrotra. Dow Jones & Co. owns Factiva. (jennifer.tershak@wsj.com)

(END) Dow Jones Newswires

November 17, 2022 13:26 ET (18:26 GMT)

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For 2023, Micron now expects its year-on-year bit supply growth to be negative for DRAM, and in the single-digit percentage range for NAND. \"Micron is taking bold and aggressive steps to reduce bit supply growth to limit the size of our inventory. We will continue to monitor industry conditions and make further adjustments as needed,\" said Micron President and CEO Sanjay Mehrotra. Dow Jones &amp; Co. owns Factiva. 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In response to market conditions, Micron said it will cut DRAM and NAND wafer starts by about 20% from the recent fourth-quarter level. The company is also working toward additional capital expenditure cuts. For 2023, Micron now expects its year-on-year bit supply growth to be negative for DRAM, and in the single-digit percentage range for NAND. \"Micron is taking bold and aggressive steps to reduce bit supply growth to limit the size of our inventory. We will continue to monitor industry conditions and make further adjustments as needed,\" said Micron President and CEO Sanjay Mehrotra. Dow Jones & Co. owns Factiva. 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