Micron CEO, Sanjay Mehrotra, is optimistic the current quarter “will be the cyclical bottom for our financial performance.”

Mehrotra said he expects “calendar 2020 industry-bit supply to be lower than industry-bit demand as a result of industry capex reductions, and consequently we expect the industry environment to improve through calendar 2020.”

Micron produces DRAM and NAND memory chips. DRAM, or dynamic random access memory, is commonly used in PCs and servers, while NAND chips are for flash memory chips used in USB drives and smaller devices such as digital cameras

See here for Earnings Release and here for Prepared Remarks.