August 2, 2021
Economy

Micron CEO Sanjay Mehrotra sees semiconductor growth in autos, 5G

Micron Technology sees immense growth for semiconductors in 5G and electric vehicles as world economies recover from the pandemic, CEO Sanjay Mehrotra told CNBC on Thursday. 

“The markets today are more diversified than ever. Automotive, electric vehicles requiring more memory and storage — actually becoming data centers on wheels in the future — and certainly smartphones, data centers, gaming, industrial applications” are all contributing to increased need for chips, Mehrotra said on “TechCheck.” “We really see a healthier and more robust demand environment than ever.”

Micron — which makes memory chips used for data storage, smartphones and a range of other computing devices — reported better-than-expected quarterly sales and profit on Wednesday. Its fourth-quarter revenue guidance also topped analyst projections.

The chipmaker forecast fourth-quarter revenue of $8.2…

Read full article here: www.cnbc.com