Micron says pace of technology transitions will need to slow

The company said, “The decline in 2024 and 2025 industry NAND demand growth outlook implies that supply actions will be necessary to achieve balance. As mentioned previously, since NAND technology transitions provide a significant increase in overall bit output, the pace of technology transitions will also need to slow in order to align supply to industry demand. Micron (MU) is decisively taking actions to align our NAND supply with industry demand trends. We have reduced NAND capital expenditures (capex) versus prior plan and have slowed the pace of technology node transitions. In addition, we are reducing NAND wafer starts by a mid-teens percentage versus prior levels. These actions will align our supply to current market demand.”