Tag Archives: Memory
(Reuters) – U.S. chipmaker Micron Technology Inc on Wednesday said it sees a recovery in the memory chip market coming and reported a quarterly profit that beat estimates as cost controls helped offset falling demand and prices, sending its shares up nearly 5 percent.
The logo of U.S. memory chip maker MicronTechnology is pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach
Micron makes NAND storage chips that are used in phones and internet servers as well as DRAM chips that help computer processors communicate with those storage chips.
The company beat revenue expectations for the fiscal second quarter ended Feb. 28. Although it gave a forecast for its fiscal third quarter that was below Wall Street’s expectations, Micron said demand is likely to begin growing again by its fourth quarter.
The results come against the backdrop of a glut in the global semiconductor industry triggered by waning demand for smartphones and spotty purchasing patterns by cloud-computing vendors, which hurt chipmakers such as Intel Corp earlier this year.
Meantime, Micron trimmed its spending plans and said it had idled some factory lines to bring its chip output in line with lower demand, helping keep profits flowing and a share buyback plan on track.
For its fiscal second quarter, Micron generated nearly $ 1 billion in free cash flow and a profit of $ 1.71 per share, excluding items. That was down from $ 2.82 a year earlier but above Wall Street expectations of $ 1.67, according to IBES data from Refinitiv.
“Certainly Micron has not been in a situation before where it’s been able to deliver such healthy profitability and cash flow in an adverse industry environment,” Chief Executive Sanjay Mehrotra said in an interview with Reuters.
Kinngai Chan, an analyst with Summit Insights Group, said investors were focusing on the outlook for a recovery in the second half of the calendar year, with the fiscal third quarter forecast representing “the bottom for Micron’s near-term sales and gross margin.”
The Boise, Idaho-based company said on Wednesday it expects revenue between $ 4.6 billion and $ 5 billion for its fiscal third quarter, falling short of analyst expectations of $ 5.3 billion according to IBES data from Refinitiv. The company cut planned capital expenditures for the 2019 fiscal year to $ 9 billion, Micron executives said, down from a previous forecast of between $ 9 billion and $ 9.5 billion.
Revenue fell to $ 5.84 billion from $ 7.35 billion, beating expectations of $ 5.3 billion.
The company said it bought back 21 million shares of its common stock for $ 702 million during the quarter as part of its $ 10 billion share buyback program, leaving a net cash position of $ 2.99 billion.
Reporting by Sayanti Chakraborty in Bengaluru and Stephen Nellis in San Francisco; editing by Sriraj Kalluvila and Leslie Adler
TOKYO (Reuters) – Toshiba Memory Corp, the world’s No. 2 producer of NAND flash memory chips, will go public as soon as the autumn of next year, Kyodo News reported on Wednesday.
Toshiba Corp sold Toshiba Memory in June to a consortium led by Bain Capital LP, which also included Apple Inc, South Korean chipmaker SK Hynix, Dell Technologies and Seagate Technology.
When asked about the Kyodo News report, a spokesman from Toshiba Memory said there is no change to its plans to go public in the next two to three years and that it has not made a decision on when specifically it will launch its initial public offering.
The sale of the chip unit helped save Toshiba Corp from years of financial crisis brought about by accounting scandals and billions of dollars in cost-overruns at its U.S. nuclear unit Westinghouse.
Reporting by Yoshiyasu Shida, writing by Stanley White; Editing by Vyas Mohan
HINDHEAD, England (Reuters) – For 93-year-old Daphne Padfield, a dementia sufferer in an English care home, the arrival of a virtual reality (VR) headset offered a window back to the day in 1953 when Britain crowned its new queen.
“Those things don’t happen too often, so we were very privileged that day,” said Padfield, casting her mind back to the coronation.
The VR film she watched is the work of a project called The Wayback, designed to trigger memories and emotions in people with dementia and help them re-engage with relatives and carers.
The first film in a planned series saw filmmakers and a 170-strong volunteer cast recreate a street party held to celebrate Queen Elizabeth’s coronation on June 2, 1953.
Users can view the film by downloading a free app onto their smartphone, which they then insert into an inexpensive virtual reality headset.
“It was born of frustration, really. I wished there’d been something around at that time that would have helped me and my family through a difficult period,” said co-creator Andy Garnett, who lost a family member who suffered from dementia.
“Using VR just seemed like a really interesting way to perhaps create a memory …and spark a bigger conversation.”
Dementia is caused when the brain is damaged by strokes or diseases such as Alzheimer‘s. People with dementia can suffer from memory loss and difficulties with thinking, problem-solving or language.
There are over 850,000 people living with some form of dementia in Britain, with that number estimated to rise to one million by 2025, according to the Alzheimer’s Society, a charity.
At Langham Court Dementia Home in Surrey, The Wayback has been introduced for relatives and carers to use with some residents.
Sarah Chapman, a director at the home, told Reuters that the film evoked detailed recollections in those who viewed it. “It was just amazing to see them so happy,” she said.
A senior researcher at a British dementia charity welcomed VR technology as a means of helping suffers, but cautioned the technology needed to be used with care.
“For instance, some people with dementia experience what are called misperceptions,” Dr Karen Harrison-Dening, head of research and publications at Dementia UK, told Reuters via email.
“…This can lead to confusion over which images are ‘real’ or not, and may prove unsettling for the person.”
The filmmakers are planning their next work around England’s 1966 soccer World Cup victory celebrations, and also hope to expand the project to other countries.
Reporting and writing by Matthew Stock and Mark Hanrahan; Editing by Tom Balmforth