Micron shares shot up after hours, but investors should hold their horses, Therese Poletti writes.
Micron Technology Inc. investors risk getting ahead of themselves with too much optimism about the rest of the year.
“We have seen early signs of bit-demand recovery in most DRAM [dynamic random access memory] end markets,” Sanjay Mehrotra, Micron’s president and chief executive, told analysts on a conference call. “Based on our assessment of customer inventory improvement, we anticipate robust bit-demand growth for the industry in the second half of the calendar year compared to the weak demand in the first half.
In addition, Mehrotra said in the important data-center market, “cloud customers are turning the corner on inventories and most are approaching normal inventory levels.”
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