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SVTPerformance's Chain of Restaurants
Road Side Pub
Frying Pan Into the Fire -- Chip Shortage
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<blockquote data-quote="Weather Man" data-source="post: 16600602" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3678276-micron-stock-gains-after-fq2-beats-with-record-auto-sales-and-upside-guidance" target="_blank">Micron stock gains after FQ2 beats with record auto sales and upside guidance</a></p><ul> <li data-xf-list-type="ul">Micron (NASDAQ:<a href="https://seekingalpha.com/symbol/MU" target="_blank">MU</a>) shares are up 2.6% after reporting fiscal Q2 results that beat top and bottom-line estimates and included an upside FQ3 forecast.</li> <li data-xf-list-type="ul">Revenue was up 30% on the year to $6.24B and the $0.98 EPS topped consensus estimates by three cents.</li> <li data-xf-list-type="ul">DRAM, which is under a supply crunch, represented 71% of FQ2 sales. Revenue was up 10% on the quarter and 44% on the year. Bit shipments were up in the high single-digit percentage range on the quarter, and ASPs were up slightly sequentially.</li> <li data-xf-list-type="ul">NAND revenue was up 5% Q/Q and 9% Y/Y. Bit shipments were up high-single-digit percent range on the quarter. ASPs were down low-single-digit percent range sequentially.</li> <li data-xf-list-type="ul">Operating cash flow was $3.08B versus $1.97B last quarter and $2.9B in last year's quarter.</li> <li data-xf-list-type="ul">Non-GAAP gross margin was 32.9% compared to 30.9% in FQ1 and 29.1% in last year's quarter.</li> <li data-xf-list-type="ul">"Micron delivered strong FQ2 results above our original projections driven by solid execution and higher-than-expected demand across multiple end markets. The DRAM market is in severe shortage, and the NAND market is showing signs of stabilization in the near term. The execution from the Micron team and these strengthened conditions enabled us to set revenue records for Mobile MCPs and automotive products, and to reach normal levels of inventory ahead of schedule," says CEO Sanjay Mehrotra.</li> <li data-xf-list-type="ul">For fiscal Q3, Micron expects revenue of $7.1B, plus or minus $200M, and EPS of $1.62, plus or minus $0.07. Consensus estimates expected $6.86B and $1.33, respectively. Micron also forecasts gross margin of 40.5-42.5%.</li> <li data-xf-list-type="ul">For CY21, Micron expects its DRAM and NAND bit supply growth to come in below industry demand. The industry demand forecast includes DRAM bit growth of about 20% and NAND growth in the low-to-mid 30% range.</li> <li data-xf-list-type="ul">Micron expects long-term DRAM and NAND bit supply growth CAGR in-line with the industry's forecasts for mid-to-high teens DRAM bit demand growth and 30% NAND growth.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16600602, member: 137766"] [URL='https://seekingalpha.com/news/3678276-micron-stock-gains-after-fq2-beats-with-record-auto-sales-and-upside-guidance']Micron stock gains after FQ2 beats with record auto sales and upside guidance[/URL] [LIST] [*]Micron (NASDAQ:[URL='https://seekingalpha.com/symbol/MU']MU[/URL]) shares are up 2.6% after reporting fiscal Q2 results that beat top and bottom-line estimates and included an upside FQ3 forecast. [*]Revenue was up 30% on the year to $6.24B and the $0.98 EPS topped consensus estimates by three cents. [*]DRAM, which is under a supply crunch, represented 71% of FQ2 sales. Revenue was up 10% on the quarter and 44% on the year. Bit shipments were up in the high single-digit percentage range on the quarter, and ASPs were up slightly sequentially. [*]NAND revenue was up 5% Q/Q and 9% Y/Y. Bit shipments were up high-single-digit percent range on the quarter. ASPs were down low-single-digit percent range sequentially. [*]Operating cash flow was $3.08B versus $1.97B last quarter and $2.9B in last year's quarter. [*]Non-GAAP gross margin was 32.9% compared to 30.9% in FQ1 and 29.1% in last year's quarter. [*]"Micron delivered strong FQ2 results above our original projections driven by solid execution and higher-than-expected demand across multiple end markets. The DRAM market is in severe shortage, and the NAND market is showing signs of stabilization in the near term. The execution from the Micron team and these strengthened conditions enabled us to set revenue records for Mobile MCPs and automotive products, and to reach normal levels of inventory ahead of schedule," says CEO Sanjay Mehrotra. [*]For fiscal Q3, Micron expects revenue of $7.1B, plus or minus $200M, and EPS of $1.62, plus or minus $0.07. Consensus estimates expected $6.86B and $1.33, respectively. Micron also forecasts gross margin of 40.5-42.5%. [*]For CY21, Micron expects its DRAM and NAND bit supply growth to come in below industry demand. The industry demand forecast includes DRAM bit growth of about 20% and NAND growth in the low-to-mid 30% range. [*]Micron expects long-term DRAM and NAND bit supply growth CAGR in-line with the industry's forecasts for mid-to-high teens DRAM bit demand growth and 30% NAND growth. [/LIST] [/QUOTE]
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