Micron’s $3.35 billion in revenue in its latest quarter was limited by ongoing weakness in the worldwide market for personal computers. PCs use dynamic random access memory, or DRAM, which is Micron’s principal product.
DRAM chips supply the memory used in most PCs and mobile devices and lose memory when they lose power.
Micron benefited from increased competition for solid-state drives and embedded, multichip units, which package different types of memory chips together.
CEO Mark Durcan told investors Jan. 6 that PC DRAM demand is showing signs of improving, and several Micron efforts could tilt memory markets in its favor. The company plans to roll out new and improved memory products and expects to see strong sales in mobile, cloud and embedded markets.
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Micron also plans to finish expanding a NAND flash memory plant in Singapore and to wrap up its takeover of Taiwanese memory-chip maker Inotera this year. Micron already owns one third of Inotera.
Micron’s stock price is down, closing at $9.69 per share on Feb. 11, its lowest point since spring 2013. In December 2014, Micron reached $36.49 per share, its highest since July 2001.
This story appears in the Feb. 17-March 16, 2016, edition of the Idaho Statesman’s Business Insider magazine as part of a special section in Idaho technology