Semiconductor company Micron Technology (MU) reported positive top and bottom line results for the second quarter of 2018. Revenue climbed 58% year-over-year to $7.35 billion, driven by increased demand across the company’s products and end markets. GAAP net income more than tripled to $3.31 billion or $2.67 per diluted share.
For third quarter of 2018, Micron estimates non-GAAP revenue to be in the range of $7.20-7.60 billion. On an adjusted basis, the company expects earnings to be in the range of $2.83 +/- $0.07 per share.
DRAM revenue accounted for 71% Micron’s total revenue in the recently ended quarter.
According to DRAMeXchange, global DRAM revenue grew 14.2% QoQ to $21.89 billion in 4Q17. DRAM revenue surged 76% year-over-year in 2017. Mobile DRAM revenue hit an all-time high of $8 billion during 4Q17 with Micron achieving QoQ sales growth of 58.8%. Global DRAM revenue is expected to reach $96 billion in 2018.
The cloud computing market witnessed accelerated growth in the last couple of years, as enterprises across the world shifted their digital assets to cloud for ensuring safety and enhancing data
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