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Technology Stocks : Silicon Motion Inc. (SIMO)
SIMO 86.58+2.3%Jan 21 4:00 PM EST

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From: Elroy6/25/2019 8:08:51 PM
   of 2454
 
Some tidbits from MU's conference call

investors.micron.com

Over the last few months, customer inventory improvements have progressed largely in line with our expectations in most end markets. NAND bit demand is also increasing in most markets as elasticity kicks in, in response to price declines over the last year.

Even as customer inventory levels of DRAM and NAND improve across most end markets, producer inventory levels are elevated.

We made further progress in strengthening our SSD portfolio with the launch of our 9300 data center NVMe SSDs for cloud and enterprise markets. We more than doubled revenue shipments of our new NVMe client SSD to large PC Micron Technology, Inc. Fiscal Q3 2019 Earnings Call Prepared Remarks © 2019 Micron Technology, Inc. 3 June 25, 2019 OEMs, and more customer qualifications are in progress. As a reminder, this new NVME drive is built with our own controller technology.

QLC SSD bit shipments increased approximately 75% sequentially, driven by growth of our consumer NVMe SSDs. This is probably SIMO's controller.

Within the data center market, cloud customers are turning the corner on inventories, and most are approaching normal inventory levels.

While we still believe the NAND industry supply is growing above demand this year, the market is showing signs of increased elasticity stemming from recent price declines. We are optimistic that the overall NAND market will start to stabilize in the second half of calendar 2019.

Overall NAND ASPs declined in the mid-teens percent range, while shipment quantities declined in the mid-single-digit percent range compared to the prior quarter. Adjusting for the Huawei impact, bit shipments came in better than our expectation due to stronger component sales.

Inventory ended the quarter at $4.9 billion, increasing from $4.4 billion at the end of FQ2.

In NAND, while the industry is benefitting from elasticity kicking in, our bit shipment growth in FQ4 will be limited due to the ongoing transition of our SSD portfolio.
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