Tomahawk, WI 08/07/2014 (Basicsmedia) – Micron Technology, Inc. (NASDAQ:MU) has been on a rally in the industry after ramping up the acquisition of Elpida and is now banking on Apple Inc. (NASDAQ:AAPL) as one of its chief customers, expected to boost earnings going forward. Apple plans to diversify itself away from Samsung as one of its suppliers, a move that will work to the advantage of Micron as it essentially means increased demand for memory chips. Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) has already picked up some orders in the industry raising concerns as to the number of orders readily available at the moment for Micron.
Micron Technology, Inc. (NASDAQ:MU) CEO, Mark Durcan, remains optimistic about the long-term impact of the ongoing partnership with Apple, especially on earnings from chips and memory division.
“I never like to comment particularly about what our trends are about our particular customers but I can tell you that we continue to be very engaged with Apple’s as a customer and we think they will continue to generate great products. They have great demand, and those will include memories of course,” said Mr. Durcan.
Micron Technology, Inc. (NASDAQ:MU) facilities continue to run fully utilized at the back of the much awaited September 9 when Apple is expected to release its new flagship product, a successor to iPhone 5. Micron’s industry operations have become extremely stable highlighted by the fact that the company did give its first ever revenue update according to the CEO.
“We did give revenue guidance for the first time and I think that it is just indicative of the fact that our industry has become more stable, that it is less volatile, and we have a better ability to contemplate exactly what our future business looks like, ” said Mr. Durcan.
Strong demand and muted supply growth according to the CEO looks set to work to Micron’s advantage at the back of increased volumes from the acquisition of Elpida. Micron Technology, Inc. (NASDAQ:MU) also remains optimistic on delivering efficient long-term solutions that should have a substantial impact on the entire industry at large.
The acquisition of Elpida has already added scale to Micron’s business with focus now shifting to achieving operation efficiency from the combined teams, integration having gone fabulously well.