21 On December, memory chip maker Micron released its first-quarter financial report. 2022 fiscal year. Results and forecast for the next quarter were better than expected. On the postmarket, Micron shares grew by 7%, to 88 $.
Compared to the first quarter of last year:
- revenue - 7,7 billion dollars (+33%);
- Operating profit - 2,6 billion (+204%);
- net profit — 2,3 billion (+187%).
Here's how revenue was distributed by type of memory:
- DRAM - Random Access Memory - 5,6 billion (+38%);
- NAND flash memory 1,9 billion (+19%);
- other — 0,2 billion (+55%).
And this is the distribution by operating segments:
- Compute and Networking - DRAM for computers, video cards and data centers — 3,4 billion (+34%);
- Mobile - DRAM and NAND for mobile devices - 1,9 billion (+27%);
- Storage — NAND for data centers, corporations and retail customers 1,2 billion (+26%);
- Embedded - DRAM and NAND for Automotive and Industrial - 1,2 billion (+51%).
Separately Micron noted high sales of chips for cloud servers, who grew by 70%. According to the company, in the near future this market will grow faster than others.
Micron operates in the cyclical semiconductor industry. At first 2020 the demand for chips began to grow, and with it the sales and shares of the company.
Micron expects, what in 2022 demand for DRAM and NAND will grow by about 15 And 30%. Next quarter revenue forecast beats analysts' expectations: 7,5 against 7,3 billion dollars.
Micron shares are up by 18%. S&P 500 over the same period added a little more - 23%. Partly Micron lags behind the index due to high returns last year. Then the papers rose by 40%.
