After Tuesday (28th), Micron released the fourth quarter, earning 2-2.2 US dollars per share, revenue 74.5-7.85 billion US dollars, lower than $ 2.53, $ 8.54 billion. CEO said that some PC customers adjust the procurement plan due to the shortage of components, and low DRAM and NAND shipments.

At the same time, the company released the third quarter of the third quarter of September 2, and the earnings per share were $ 2.0.42, which was more than 1.08 dollars last year, revenue $ 8.27 billion, higher than US $ 60.6 billion in the same period of the previous year, two Both of the analysts have average $ 2.33, 8.23 ​​billion US dollars.

According to MarketWatch, Micron profit from the price of memory chip during the epidemic, but analysts and experts believe that this situation is about to end, especially for DRAM. With the slowdown of personal computer sales, analysts believe that the market price increase in the past year is also declined.

In the latest report released on Monday, Raymond James reduced the Micron target price from $ 120 to $ 100, but maintained "strongly bought" rating. "We believe that the demand outside the PC remains healthy, we do not think that the supply of DRAM industry has been excessive, this is the most important factor in optimism." "Despite this, we have seen the initial signs of production expenditure, if this situation continues Will, will lead us more cautious. "

In addition to Raymond James, at least 10 institutions or analysts cut the target price of Micron, according to FactSet data, as of Tuesday, the average target price has dropped from more than $ 120 ($ 109.57) from the end of July. But Micron's performance and financial test may not be the most important reason for analysts' destination price.

At the conference call after the financial report, CEO Sanjay Mehrotra said that the fourth quarter DRAM and NAND shipments will drop slightly, and some PC customers have adjusted the purchase of memory due to component shortages. But he believes that this part of the adjustment will soon be resolved.

According to it, in the Micron supply chain, the supply of specific IC components is also very tight, which in turn affects the number of NAND Flash bits, but it will resume growth in the second half of our year. "We expect to achieve records in the 2022 fiscal year. Revenue, and achieve stable profitability. "

Micron also said 2022 accounting annual capital expenditure will be between 110-12 billion, but DRAM production equipment annual capital expenditure will be less than 2021. Three months ago, Micron raised 2021 accounting annual capital expenditure to $ 9.5 billion above 9 billion US dollars, and actual expenditure reached $ 9.7 billion.