Micron's Customers Are Putting Up $22 Billion, and Its CEO Says Data Centers Want 50% More Memory Than It Can Ship
The memory maker's customers have committed to buying fixed volumes through 2030 -- whatever prices do. The supply they want most still doesn't exist.
Overview
Micron Technology's (NASDAQ:MU) CEO, Sanjay Mehrotra, sat down with CNBC's Jim Cramer last week at a construction site in Boise, Idaho, where the memory specialist is building two chip fabrication plants.
He had a lot to talk about: Micron's fiscal third-quarter revenue more than quadrupled year over year to $41.5 billion, and net income hit $28.2 billion, compared with $1.9 billion a year earlier. Guidance points to about $50 billion this quarter.
Details
But the number I keep coming back to wasn't in any earnings release. It's the money customers are putting up upfront -- $22 billion in deposits and related commitments under the first 16 agreements.
Source
Originally published at www.fool.com.