Micron Cuts Capex, Wafer Starts
The company also resumed shipping some products to Huawei
June 26, 2019
SAN FRANCISCO — U.S. memory chip supplier Micron Technology said that it would reduce its capital-spending plans for fiscal 2019 and 2020 and further trim wafer starts amid an ongoing demand slowdown that has thrown the memory market into a tailspin.
Micron said that it would slash capital spending for its fiscal 2019, which closes in August, to about $9 billion, down about 10% from the company’s estimate of about $10.5 billion at the start of the fiscal year. Micron said that it expects its fiscal 2020 capital expenditures to be “meaningfully lower” than fiscal 2019.
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