Micron at Credit Suisse Conference Notes

Micron Technology’s (MU) Management Presents at Credit Suisse

Ernie Maddock

Overall demand environment healthy

“Relative to the market as we see it, the overall demand environment continues to be healthy. We do continue to see supply growth flowing with technology transition, and of course that’s predicated on no incremental wafers being added. ”

3D Xpoint markets will take time to develop

“And then of course 3D Xpoint, the first new emerging — first new memory technology in 20 or so years. I know that folks are very anxious to see that move into a level of maturity that the other two products are. I would stress DRAM has been around for what 30 years, and NAND has been around for at least 15, and this is two years old. So there is still some market development that’s left to go. And we’re excited to see how that market progresses.”

Thoughtfully analyzing EUV but not going to replace all the edge equipment at once

“We’re thoughtfully analyzing it. At present, I wouldn’t say it has as much prominence in our thinking process might be the case for Samsung or Hynix. But we’re still not fully developed on those subsequent technology nodes. So we’ll have to see. But certainly I think it’s reasonable to think that if it used, it’s used in fairly case-specific requirement. So you’re not going to replace all the edge equipments or anything else you used to get the double patterning that supported you when you didn’t have it, you are not going to bundle that up and throw it out the door and move into UV tool as it becomes a much different discussion as you think greenfield capacity.”