Micron FY 1Q16 Earnings Call Notes

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http://seekingalpha.com/insight/earnings-center/article/3772696-micron-technologys-mu-ceo-mark-durcan-on-q1-2016-results-earnings-call-transcript?part=single

Mark Durcan

Can envision a future in which no additional DRAM wafer capacity is required

“based on current long-term outlook we foresee technology driven supply growth slowing and can envision a future in which no additional DRAM wafer capacity is required.”

Signs that channel inventories are leveling off in PC markets

“We think that the PC market, the signs are that channel inventories are leveling off a little bit better that was after the inventory was low. If you look at more specifically to our business DRAM inventory in the channel with the exception of one player, one larger player, DRAM inventory across our channel is pretty low. So the demand seems to be flowing through and replenish of inventory seems — that seems to be dynamic in the PC space. So that’s what behind our view of the world in terms of PC shipments. If you look at the data while not stellar growth certainly better than the first half of calendar year ’15.”