March 28 (Reuters) - Micron Technology Inc:
* MICRON TECHNOLOGY INC - CUSTOMER INVENTORIES HAVE REDUCED IN SEVERAL END MARKETS - CONF CALL
* MICRON TECHNOLOGY INC - AI DEVELOPMENTS, WHICH REQUIRE SIGNIFICANT AMOUNTS OF MEMORY AND STORAGE, PROVIDE EXCITING PRELUDE
* MICRON TECHNOLOGY INC - DATA CENTER REVENUE BOTTOMED IN FISCAL Q2, EXPECT TO SEE REVENUE GROWTH IN FISCAL Q3
* MICRON TECHNOLOGY INC - CONTINUE TO SEE AI AS A SECULAR DRIVER OF DEMAND GROWTH IN THE DATA CENTER
* MICRON TECHNOLOGY INC - FORECAST CALENDAR 2023 PC UNIT VOLUME TO DECLINE BY A MID-SINGLE-DIGIT PERCENTAGE
* MICRON TECHNOLOGY INC - EXPECT GRAPHICS DEMAND IN THE SECOND HALF OF CALENDAR 2023 TO BE STRONGER THAN IN THE FIRST HALF
* MICRON TECHNOLOGY INC - EXPECT CALENDAR 2023 SMARTPHONE UNIT VOLUME TO BE DOWN SLIGHTLY YEAR OVER YEAR
* MICRON TECHNOLOGY INC - EXPECT CONTINUED GROWTH IN AUTO MEMORY DEMAND FOR THE SECOND HALF OF 2023
* MICRON TECHNOLOGY INC SAYS IT IS FURTHER REDUCING SUPPLY
* MICRON TECHNOLOGY INC - EXPECT FISCAL 2023 CAPEX TO BE TWO-THIRDS FRONT-HALF WEIGHTED, WITH A HIGHER MIX OF CONSTRUCTION SPEND IN H2
* MICRON TECHNOLOGY INC - INCREASED OUR HEADCOUNT REDUCTION TARGET TO APPROACH 15% FROM OUR PREVIOUS TARGET OF ABOUT 10%
* MICRON TECHNOLOGY INC - EXPECT Q3 GROSS MARGINS TO BE NEGATIVELY IMPACTED BY PRICING, WRITE-DOWN OF INVENTORY, COSTS OF UNDERUTILIZATION
* MICRON TECHNOLOGY INC - EXPECT PROFITABILITY TO REMAIN EXTREMELY CHALLENGED IN THE NEAR TERM
* MICRON TECHNOLOGY INC - EXPECT THE TRAJECTORY OF PRICING TO BE IMPROVING
* MICRON TECHNOLOGY INC CEO SAYS PROFITABILITY LEVELS IN THE INDUSTRY TODAY ARE "SIMPLY NOT SUSTAINABLE"
* MICRON TECHNOLOGY INC CEO SAYS THESE ARE EARLY STAGES OF GENERATIVE AI, AND AI TRENDS WILL DRIVE GREATER DEMAND FOR MEMORY AND STORAGE
* MICRON TECHNOLOGY INC CEO SAYS SMARTPHONE MARKET IS SHIFTING ITS MIX MORE TOWARDS FLAGSHIP PHONES AND THEY REQUIRE MORE MEMORY
* MICRON TECHNOLOGY INC - EXPECT Q2 GROSS MARGIN TO BE THE TROUGH
* MICRON TECHNOLOGY INC - EXPECT SOME GROSS MARGIN IMPROVEMENT THROUGH FY 2024 Further company coverage: