Micron says NAND bit demand growth lower than prior expectations

The company said, “Our outlook for industry NAND bit demand growth in both calendar 2024 and 2025 is now in the low double-digits percentage range, which is lower than our prior expectations. Key drivers include slower growth in NAND content in consumer devices, ongoing inventory adjustments and demand dynamics in different end markets, as outlined earlier, and a temporary moderation in near-term data center SSD purchases by customers after several quarters of very rapid growth. ” Comments taken from Q1 prepared remarks.