Micron continues its tradition of innovative business strategies by buying distressed assets and creating highly productive joint ventures. For DRAM, the company is projecting 160% bit growth per wafer from Q4 2009 – Q4 2011. NAND is forecasted to achieve 114% bit growth per wafer over the same time.
Their copper and leading edge process drives lower voltages and higher reliability. Micron's goal is to be the lowest-cost manufacturer.
The ventures with Intel and Inotera provide 50% of both DRAM and NAND, which is a great strategic move.
Looking at fab tools, lead times for litho tools have extended to 10-12 months. Micron claims that they have slots for the tools that they need; however, the overall industry may be limited.
One tool per month through 2011 at Inotera. Inotera will ramp 50nm in 2010, with 42nm starting Q4 2010. Moving to 42nm will bring a huge productivity improvement at Inotera, and will cost $2 billion.
On top of this, Micron is generating substantial cash.
-- Posted from Micron's winter analyst meeting
