Micron Technology, Inc. (NASDAQ:MU) to discuss growth of Micron’s solid state drive (SSD)
Micron Technology, Inc. (NASDAQ:MU) is one of the leading global company which provides advanced semiconductor solutions has recently announced that the growth of Micron’s solid state drive (SSD) business will be discussed on July 18, 2013.
Price of Dynamic Random Access Memory (DRAM) has significantly increased this year despite of the falling in sales volume of the PC’s as the memory makers have cut down on production to support prices. This strategy has led the company to a terrific gross margin improvement and the company has gained profits on an adjusted basis as the metric improved an impressive six percentage points in the previous quarter.
As the demand for the smartphones and tablets are whooping tremendously, it is leading the demand for DRAM’s to grow even more. The increase in demand of mobile isn’t driving just DRAM but is also pushing up the performance of Micron’s NAND business. In addition, Micron has another area to grow along with which are the solid-state drives.
The increasing trend of tablets and smartphones is driving up the DRAM market. As per a report from the market researcher IDC, it stated that the DRAM share in smartphones and tablets is expected to rise up to 26.7% by the end of 2013 from 14.1% in the first quarter of 2012. In the near future, this growth is expecting to grow even more thereby, increasing the DRAM market significantly.
Micron’s gaining transactions with the European customers are helping it to win new designs and are also planning to set standards in the production of DRAM and solid-state drives for laptops, servers, desktops and other devices.
The stock of the company has increased by 104.73% in its year-to-date performance. The stock of the company closed down at $12.55 in its Wednesday trading session. The company has a market capitalization of $12.99 billion with 1.03 billion outstanding shares.