使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主
Operator
Operator
Good afternoon.
下午好。
My name is Karen, and I will be your I will be your conference facilitator today.
我叫凱倫,今天我將成為您的會議主持人。
At this time, I would like to welcome everyone to the Micron Technology's third-quarter FY15 financial release conference call.
在此,歡迎大家參加美光科技FY15第三季度財務發布電話會議。
(Operator Instructions)
(操作員說明)
Thank you.
謝謝你。
It is now my pleasure to turn the floor over to your host, Kipp Bedard.
現在,我很高興將發言權交給您的主持人 Kipp Bedard。
Sir, you may begin your conference.
先生,您可以開始您的會議了。
- IR
- IR
Thank you, and welcome everyone to Micron Technology's third-quarter FY15 financial release conference call.
謝謝大家,歡迎大家參加美光科技 2015 財年第三季度財務發布電話會議。
On the call today is Mr. Mark Durcan, CEO and Director; Mark Adams, President; and Ernie Maddock, our newly-appointed Chief Financial Officer.
今天的電話會議是首席執行官兼董事 Mark Durcan 先生;馬克·亞當斯,總裁;和我們新任命的首席財務官 Ernie Maddock。
This conference call, including audio and slides, is also available on our website at Micron.com.
此電話會議(包括音頻和幻燈片)也可在我們的網站 Micron.com 上找到。
In addition, our website has a file containing the quarterly operational and financial information and guidance, non-GAAP information with reconciliation, slides used during the conference call, and a convertible debt and capped call dilution table.
此外,我們的網站有一個文件,其中包含季度運營和財務信息和指導、非 GAAP 對賬信息、電話會議期間使用的幻燈片,以及可轉換債務和上限呼叫稀釋表。
If you have not had an opportunity to review the third-quarter FY15 financial press release, it is also available on our website at Micron.com.
如果您沒有機會查看 2015 財年第三季度財務新聞稿,也可以在我們的網站 Micron.com 上查看。
Our call will be approximately 60 minutes in length.
我們的通話時間約為 60 分鐘。
There will be an audio replay of the call, accessed by dialing 404-537-3406 with the confirmation code of 68369558.
將有通話的音頻重播,可通過撥打 404-537-3406 和確認碼 68369558 訪問。
This replay will run through Thursday, July 2, at 11:30 p.m.
此重播將持續到 7 月 2 日星期四晚上 11:30。
mountain time.
山區時間。
A webcast replay will be available on the Company's website until June of 2016.
2016 年 6 月之前,公司網站將提供網絡重播。
We encourage you to monitor our website at Micron.com throughout the quarter for the most current information on the Company, including information on various financial conferences that we will be attending.
我們鼓勵您在整個季度監控我們的網站 Micron.com,以獲取有關公司的最新信息,包括我們將參加的各種財務會議的信息。
You can also follow us on Twitter @MicronTech.
您也可以在 Twitter @MicronTech 上關注我們。
Please note the following Safe Harbor statement.
請注意以下安全港聲明。
(Recording) During the course of this meeting, we may make projections or other forward-looking statements regarding future events or the future financial performance of the Company and the industry.
(錄音)在本次會議期間,我們可能會就公司和行業的未來事件或未來財務業績做出預測或其他前瞻性陳述。
We wish to caution you that such statements are predictions and that actual events or results may differ materially.
我們希望提醒您,此類陳述是預測,實際事件或結果可能存在重大差異。
We refer you to the documents the Company files on a consolidated basis from time to time with the Securities and Exchange Commission, specifically, the Company's most recent Form 10-K and Form 10-Q.
我們建議您參考公司不時向證券交易委員會提交的綜合文件,特別是公司最近的 10-K 表格和 10-Q 表格。
These documents contain and identify important factors that could cause the actual results for the Company on a consolidated basis to differ materially from those contained in our projections or forward-looking statements.
這些文件包含並確定了可能導致公司在綜合基礎上的實際結果與我們的預測或前瞻性陳述中包含的結果存在重大差異的重要因素。
These certain factors can be found in the Investor Relations section of Micron's website.
這些特定因素可以在美光網站的投資者關係部分找到。
Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements.
儘管我們認為前瞻性陳述中反映的預期是合理的,但我們不能保證未來的結果、活動水平、業績或成就。
We are under no duty to update any of the forward-looking statements after the date of the presentation to conform these statements to actual results.
我們沒有義務在演示日期之後更新任何前瞻性陳述,以使這些陳述符合實際結果。
(End Recording)
(結束錄音)
With that, I'd like to now turn the call over to Mr. Mark Durcan.
有了這個,我現在想把電話轉給 Mark Durcan 先生。
Mark?
標記?
- CEO & Director
- CEO & Director
Thanks, Kipp.
謝謝,基普。
For Q3 FY15, Micron posted total revenue of $3.9 billion, within our revenue guidance of $3.8 billion to $4.05 billion.
2015 財年第三季度,美光公佈的總收入為 39 億美元,在我們 38 億至 40.5 億美元的收入指導範圍內。
Revenue was sequentially lower, as expected, in fiscal Q3, due to near-term market headwinds, driven primarily by weakness in the PC sector.
正如預期的那樣,由於近期市場逆風,主要受個人電腦行業疲軟的推動,第三財季收入連續下降。
Net income was $491 million, and earnings per share were $0.42.
淨收入為 4.91 億美元,每股收益為 0.42 美元。
Non-GAAP net income was $620 million, and non-GAAP earnings per share were $0.54.
非 GAAP 淨收入為 6.2 億美元,非 GAAP 每股收益為 0.54 美元。
Free cash flow was approximately $600 million, based upon operating cash flow and capital expenditures of approximately $1.3 billion and $730 million, respectively.
根據運營現金流和資本支出分別約為 13 億美元和 7.3 億美元,自由現金流約為 6 億美元。
The Team executed well in the challenging market conditions during Q3, as we supported our customers across a broad range of market segments.
由於我們在廣泛的細分市場中為客戶提供支持,因此團隊在第三季度充滿挑戰的市場條件下表現出色。
Micron is a memory company that produces technologically advanced components, systems, and subsystems to the global marketplace.
美光是一家內存公司,為全球市場生產技術先進的組件、系統和子系統。
As such, it's important that regardless of near-term market conditions, we remain focused on the long term.
因此,重要的是,無論近期市場狀況如何,我們都必須專注於長期。
We are continuing to deploy advanced process technology to enable leading-edge products for our customers and to drive ongoing manufacturing efficiency for Micron.
我們將繼續部署先進的工藝技術,為我們的客戶提供領先的產品,並推動美光的持續製造效率。
Our customers are looking for a partner in memory system development who is capable of delivering advanced technology systems and solutions that are tuned to their product requirements, and who will provide their product and their companies with a leading-edge position in the marketplace.
我們的客戶正在尋找存儲器系統開發方面的合作夥伴,該合作夥伴能夠提供符合其產品要求的先進技術系統和解決方案,並為他們的產品和公司提供市場領先地位。
Today's customers are also looking for ways to gain more innovation and efficiency in their own system design, as memory is being deployed in more ways than ever previously imagined.
今天的客戶也在尋找在他們自己的系統設計中獲得更多創新和效率的方法,因為內存的部署方式比以前想像的要多。
From cloud servers to mobile infrastructure and automotive design to industrial and medical devices, Micron memory is a preferred memory partner and is at the heart of technology product innovation.
從雲服務器到移動基礎設施和汽車設計,再到工業和醫療設備,美光內存是首選的內存合作夥伴,是技術產品創新的核心。
Turning to overall market conditions, we expect stabilizing DRAM ASPs across the broader market over time as we manage our product mix and distribute our capacity to a broad set of value-added market segments.
談到整體市場狀況,隨著我們管理我們的產品組合併將我們的產能分配到廣泛的增值細分市場,我們預計隨著時間的推移在更廣泛的市場中穩定 DRAM ASP。
Consistent with prior expectations, we are forecasting DRAM industry supply bit growth in the mid 20s in calendar 2015 and in the low to mid 20%s in calendar 2016.
與之前的預期一致,我們預測 2015 年 20 年代中期的 DRAM 行業供應位增長以及 2016 年的 20% 中低點。
We currently believe that DRAM demand in calendar 2015 in aggregate will be at or exceed supply.
我們目前認為 2015 年的 DRAM 需求總量將達到或超過供應量。
For NAND, the market continues to consume planar NAND at increasing rates, and we look forward to volume production of Micron's differentiated high-performance 3D NAND later this year.
對於 NAND,市場繼續以越來越高的速度消耗平面 NAND,我們期待今年晚些時候美光差異化的高性能 3D NAND 量產。
We expect the NAND industry supply bit growth in the high 30% range this year and in the mid 30% range next year.
我們預計今年 NAND 行業供應位增長將在 30% 的高位範圍內,明年將在 30% 的中位範圍內。
We believe supply and demand are in balance this year, and unconstrained demand is above supply in future periods based on currently known capacity plans.
我們認為,今年供需平衡,根據目前已知的產能計劃,未來一段時間內不受約束的需求將高於供應。
We are making good progress with fab expansion in Singapore.
我們在新加坡的晶圓廠擴建取得了良好的進展。
We expect the markable will demand all of the 3D NAND output we can produce, given the attractive cost and performance of our technology and an elastic storage market we will sell into.
鑑於我們技術具有吸引力的成本和性能以及我們將銷售的彈性存儲市場,我們預計標記將需要我們可以生產的所有 3D NAND 輸出。
Advanced technology deployment requires focused investment and carefully managed transitions.
先進的技術部署需要集中投資和精心管理的過渡。
To effectively execute next-generation technology production at scale, we are converting tools and systems today to allow for testing, samples, and product qualification in the future.
為了有效地大規模執行下一代技術生產,我們現在正在轉換工具和系統,以便在未來進行測試、樣品和產品認證。
These activities drive future growth and margin expansion opportunities in our business, although they often limit short-term bit growth and cost reductions.
這些活動推動了我們業務的未來增長和利潤擴張機會,儘管它們通常會限制短期比特增長和成本降低。
We are continuing to make capital investments today to position ourselves for next-generation production capabilities and for technology leadership.
今天,我們將繼續進行資本投資,為下一代生產能力和技術領先地位做好準備。
As always, we will manage our capital to deliver long-term returns and shareholder value.
一如既往,我們將管理我們的資本以提供長期回報和股東價值。
For today's call I've asked Mark Adams to summarize our operational and BU results.
在今天的電話會議中,我請 Mark Adams 總結我們的運營和 BU 結果。
I'd also like to welcome Ernie Maddock, our recently-appointed CFO.
我還要歡迎我們最近任命的首席財務官 Ernie Maddock。
Ernie possesses outstanding industry experience, has hit the ground running, and we are excited to have him on the Team.
Ernie 擁有出色的行業經驗,一舉成名,我們很高興他能加入團隊。
He will cover Q3 financials and Q4 guidance.
他將涵蓋第三季度財務和第四季度指導。
I'll return at the end of the prepared remarks with a quick summary and lead into Q&A.
我將在準備好的評論結束時返回並簡要總結並進行問答。
Mark?
標記?
- President
- President
Thank you, Mark.
謝謝你,馬克。
I will begin by providing an update on our key technology development initiatives, then review our DRAM and NAND businesses, and conclude my portion of the call with commentary on each of our four business units.
我將首先介紹我們關鍵技術開發計劃的最新情況,然後回顧我們的 DRAM 和 NAND 業務,並在電話會議結束時對我們四個業務部門中的每一個進行評論。
On the technology deployment front, we remain focused on three major technology initiatives.
在技術部署方面,我們仍然專注於三大技術計劃。
Completing the ramp of our 25-nanometer DRAM technology, driving scale output of our 20-nanometer DRAM technology, and the launching of our 3D NAND technology.
完成我們的 25 納米 DRAM 技術的爬坡,推動我們的 20 納米 DRAM 技術的規模輸出,以及我們的 3D NAND 技術的推出。
We are currently shipping early-production 20-nanometer DRAM, and we'll continue to ramp throughout the remainder of this year.
我們目前正在發貨早期生產的 20 納米 DRAM,我們將在今年剩餘時間內繼續增加產量。
We are expecting bit crossover in the first half of calendar 2016.
我們預計 2016 年上半年的比特交叉。
We are still on track for low-volume production of 3D NAND in the second half of 2015, ramping to a significant percentage of our trade NAND supply in calendar 2016.
在 2015 年下半年,我們仍有望小批量生產 3D NAND,在 2016 年我們的貿易 NAND 供應中佔很大比例。
Now, let me discuss our DRAM and NAND businesses.
現在,讓我討論一下我們的 DRAM 和 NAND 業務。
Let's begin with our DRAM business, which represents roughly 61% of our total revenue in fiscal Q3.
讓我們從我們的 DRAM 業務開始,該業務約占我們第三財季總收入的 61%。
We delivered DRAM solutions to a variety of market segments.
我們為各種細分市場提供 DRAM 解決方案。
While PC builds declined well below seasonally slow demand in the first half of the year, we saw relative stability in other end markets and responded to these conditions by adjusting our production mix throughout the quarter.
雖然今年上半年 PC 生產量下降遠低於季節性緩慢的需求,但我們看到其他終端市場相對穩定,並通過調整整個季度的生產組合來應對這些情況。
As a percent of DRAM revenue in fiscal Q3, mobile was in the high 20% range; the PC segment was in the low 30% range; the server business was in the low 20% range; and networking, graphics, and AIM comprise the remainder.
作為第三財季 DRAM 收入的百分比,移動設備處於 20% 的高位;個人電腦部分處於 30% 的低位;服務器業務處於20%的低位區間;網絡、圖形和 AIM 構成其餘部分。
We continue to move production from DDR3 to DDR4 to meet growing customer demand across our customer base for long-term, more stable business.
我們繼續將生產從 DDR3 轉移到 DDR4,以滿足我們客戶群不斷增長的客戶需求,從而實現長期、更穩定的業務。
Moving on to our NAND business, trade NAND revenue represented 32% of total revenue in fiscal Q3, and performance was consistent with our expectations.
轉向我們的 NAND 業務,貿易 NAND 收入佔第三財季總收入的 32%,業績符合我們的預期。
Our trade NAND bit growth was approximately flat, due to mix shifts in favor of longer-term design win opportunities for both Micron-managed NAND and MCPs for mobile, and SSDs for our storage business.
我們的貿易 NAND 位增長大致持平,因為混合轉變有利於美光管理的 NAND 和移動 MCP 以及我們存儲業務的 SSD 的長期設計贏得機會。
These products represent strong growth opportunities for us going forward.
這些產品代表了我們未來的強勁增長機會。
As a percent of trade NAND revenue in fiscal Q3, consumer, which includes cards, USB, and components, was in the mid-40% range.
作為第三財季 NAND 貿易收入的百分比,包括卡、USB 和組件在內的消費類產品在 40% 左右。
Mobile, including MCPs, was in the low 20% range.
移動設備(包括 MCP)處於 20% 的低位範圍內。
SSDs were in the high teens.
SSD處於十幾歲。
AIM and other embedded markets combined to roughly mid teens.
AIM 和其他嵌入式市場加起來大約在十幾歲左右。
We saw a 3% uptick in NAND component pricing in the quarter, as we moved more bits to our own SSD and mobile business and reduced the supply available to the transactional channel market.
我們看到本季度 NAND 組件價格上漲了 3%,因為我們將更多位轉移到我們自己的 SSD 和移動業務,並減少了可用於交易渠道市場的供應。
We continue to better position our MLC portfolio to focus on strategic customers and higher-performance segments.
我們繼續更好地定位我們的 MLC 產品組合,以專注於戰略客戶和更高績效的細分市場。
In fiscal Q3, these efforts reduced our MLC shipments into the existing TLC-enabled components channel by approximately 30%.
在第三財季,這些努力將我們在現有 TLC 組件渠道中的 MLC 出貨量減少了約 30%。
Moving on to our business units.
繼續我們的業務部門。
CNBU, for our compute networking business unit, revenue was $1.5 billion in fiscal Q3, with operating income of $266 million.
CNBU,對於我們的計算網絡業務部門,第三財季收入為 15 億美元,營業收入為 2.66 億美元。
CNBU was impacted by lower ASPs, driven by softness in demand from the PC segment.
CNBU 受到平均售價下降的影響,主要是由於 PC 市場需求疲軟。
Consistent with our statements on the last earnings call, we have reduced output targeted at the PC segments in favor of faster-growing, more stable segments.
與我們在上次財報電話會議上的聲明一致,我們減少了針對 PC 細分市場的產量,以支持增長更快、更穩定的細分市場。
We expect better relative performance for PC builds in the second half of calendar year 2015, along with continued DRAM content growth, resulting in PC DRAM bit demands up slightly for the year.
我們預計 2015 年下半年 PC 構建的相對錶現會更好,隨著 DRAM 內容的持續增長,導致今年 PC DRAM 位需求略有上升。
CNBU enterprise customers continue their transition to DDR4 technology, including eight gigabit DDR4, to support workloads that require both higher-performance and higher-density modules.
CNBU 企業客戶繼續向 DDR4 技術過渡,包括 8 個千兆位 DDR4,以支持需要更高性能和更高密度模塊的工作負載。
We continue to believe that applications such as in-memory database computing will drive substantial growth.
我們仍然相信內存數據庫計算等應用程序將推動大幅增長。
In the networking segment, we see continued LTE deployments in emerging markets, which should represent additional opportunities as we move forward.
在網絡領域,我們看到新興市場繼續部署 LTE,這應該代表我們前進的更多機會。
Cloud server represents a high-growth segment, with analysts projecting 50% bit growth year-over-year.
雲服務器代表了一個高增長的細分市場,分析師預計同比增長 50%。
Growth in our graphics business was driven by sales into game consoles and high-performance graphics cards.
我們圖形業務的增長是由遊戲機和高性能圖形卡的銷售推動的。
This segment is transitioning to GDDR5.
這部分正在過渡到 GDDR5。
We also commenced shipments of our first 20-nanometer graphics products.
我們還開始出貨首批 20 納米圖形產品。
I mentioned our commencing 20-nanometer shipments earlier in my script.
我在腳本的前面提到了我們開始 20 納米的出貨量。
These initial products are primarily in support of CNBU, for example, our compute customers in the PC segment.
這些初始產品主要支持 CNBU,例如我們在 PC 領域的計算客戶。
Revenues in Micron's storage business unit was $901 million in fiscal Q3, down 6% sequentially, as we opportunistically shifted more NAND bits to higher-margin businesses, such as our mobile and embedded business units.
美光第三財季存儲業務部門的收入為 9.01 億美元,環比下降 6%,因為我們有機會將更多的 NAND 位轉移到利潤率更高的業務,例如我們的移動和嵌入式業務部門。
Gross margins were up slightly in the quarter, as we continue to focus on improving our storage business.
由於我們繼續專注於改善我們的存儲業務,本季度的毛利率略有上升。
Operating margins were slightly negative, as we remain focused on investing for sustainable growth in this area.
營業利潤率略微為負,因為我們仍然專注於投資以實現該領域的可持續增長。
Consistent with our stated strategy to improve Micron's storage business, we made good progress on key milestones in our third quarter.
根據我們改善美光存儲業務的既定戰略,我們在第三季度的關鍵里程碑上取得了良好進展。
We announced availability of our new 16-nanometer TLC planar NAND components in fiscal Q3, and already have several channel customers buying our TLC who will input them into SSDs, consumer drives, memory cards, and other products, offering high-density storage products to market based on this technology.
我們在第三財季宣布推出新的 16 納米 TLC 平面 NAND 組件,並且已經有多個渠道客戶購買了我們的 TLC,他們將把它們投入到 SSD、消費驅動器、存儲卡和其他產品中,為客戶提供高密度存儲產品基於該技術的市場。
Our SBU enterprise and data center businesses both grew 45% sequentially, albeit from a lower base.
我們的 SBU 企業和數據中心業務均環比增長 45%,儘管基數較低。
We are pleased with the progress of our collaboration with Seagate, and we'll have our first SAS SSD launch resulting form this partnership later in the summer.
我們對與希捷合作取得的進展感到高興,我們將在夏季晚些時候通過這種合作關係推出我們的第一個 SAS SSD。
We have begun early sampling with customers and already have secured two qualification slots with major OEMs.
我們已經開始向客戶提供早期樣品,並且已經獲得了兩個主要 OEM 的資格認證名額。
Finally, we'll release our own consumer SSD based on TLC NAND technology in the second half of 2015.
最後,我們將在 2015 年下半年發布我們自己的基於 TLC NAND 技術的消費級 SSD。
We expect to have roughly 50% of our SSDs on TLC by the end of FY16.
我們預計到 FY16 年底將有大約 50% 的 SSD 用於 TLC。
Revenue at MBU, mobile business unit, was $938 million in fiscal Q3, up 10% sequentially.
第三財季移動業務部門 MBU 的收入為 9.38 億美元,環比增長 10%。
Operating income was $296 million, or 32%, up from 31% in fiscal Q2.
營業收入為 2.96 億美元,即 32%,高於第二財季的 31%。
The mobile market supply demand balance remains healthy.
移動市場供需平衡保持健康。
Our mobile business continues to benefit from increasing content growth across the entire range of mobile products.
我們的移動業務繼續受益於整個移動產品範圍內不斷增長的內容增長。
Three- to four-gigabyte phones announced at Mobile World Congress in March are now hitting the market.
3 月在世界移動通信大會上宣布的 3 到 4 GB 的手機現已上市。
Low- to mid-priced phones targeted at emerging markets are being built with significant memory content, including DRAM specs at one gigabyte and above.
針對新興市場的中低價位手機正在構建具有大量內存內容,包括 1 GB 及以上的 DRAM 規格。
We're also seeing a pull in of next-generation 4G LTE chipsets and reference designs that double the content of both DRAM and NAND from two gigabytes to four gigabytes of DRAM and from 8- and 16-gigabyte NANDs to 16- and 32-gigabyte configurations.
我們還看到下一代 4G LTE 芯片組和參考設計的引入,它們將 DRAM 和 NAND 的容量從 2 GB 增加到 4 GB,從 8 GB 和 16 GB NAND 增加到 16 GB 和 32 GB千兆字節配置。
Micron continues joint validations for low-power DDR4 across chipset platforms.
美光繼續對跨芯片組平台的低功耗 DDR4 進行聯合驗證。
LP4 adoption is currently limited to the very high end of the market today, but will be adopted more broadly in calendar 2016.
LP4 的採用目前僅限於當今非常高端的市場,但將在 2016 年更廣泛地採用。
Additionally, the rapid adoption of eMCPs in the high-growth, mid-range market creates a significant opportunity for Micron as the MCPs regard both lower-power DRAM and NAND, demonstrating the strength of our portfolio.
此外,eMCP 在高增長的中端市場中的快速採用為美光創造了重要的機會,因為 MCP 同時考慮了低功耗 DRAM 和 NAND,展示了我們產品組合的實力。
Micron's embedded unit business unit posted revenues of $483 million, with operating margin of 20%.
美光嵌入式業務部門的收入為 4.83 億美元,營業利潤率為 20%。
Sales of our automotive-grade e.MMC hit an all-time high.
我們的汽車級 e.MMC 銷量創歷史新高。
We introduced our auto-grade low-power DDR4 and our high-performance G18 parallel NOR Flash devices in fiscal Q3.
我們在第三財季推出了我們的汽車級低功耗 DDR4 和我們的高性能 G18 並行 NOR 閃存設備。
These products enable improved performance and power reduction for critical applications in high-temperature, rugged environments.
這些產品可提高高溫、惡劣環境中關鍵應用的性能並降低功耗。
EBU also experienced strong demand in the gaming business.
EBU 在遊戲業務方面也經歷了強勁的需求。
Demand for high-density, 45-nanometer NOR Flash solutions are being driven by regulatory change in the Japanese gaming sector, and we expect this elevated level of demand to continue.
日本遊戲行業的監管變化正在推動對高密度 45 納米 NOR 閃存解決方案的需求,我們預計這種高水平的需求將持續下去。
It is also worthy to note that EBU's shipments of NAND increased 27% from the prior quarter.
還值得注意的是,EBU 的 NAND 出貨量較上一季度增長了 27%。
Now, to continue our commentary on fiscal Q3 results and Q4 guidance, I'll turn the call over to Ernie.
現在,為了繼續我們對第三季度財報和第四季度指導的評論,我將把電話轉給厄尼。
- CFO
- CFO
Thanks, Mark.
謝謝,馬克。
It's a pleasure to be joining the Micron Team, and I look forward to meeting many of you at our upcoming Analyst Day in August.
很高興加入美光團隊,我期待在即將到來的 8 月分析師日與你們中的許多人會面。
The third quarter of FY15 ended on June 4, and the results include net income of $491 million, or $0.42 per share, and net sales of $3.9 billion, and gross margin of 31%.
2015 財年第三季度於 6 月 4 日結束,業績包括淨收入 4.91 億美元,即每股 0.42 美元,淨銷售額 39 億美元,毛利率為 31%。
Aside from our recurring items, non-GAAP adjustments include an additional provision for income taxes relating to a tax rate change in Japan that resulted in a reduction in the value of the deferred tax asset from MMJ operations.
除了我們的經常性項目外,非公認會計原則調整包括與日本稅率變化相關的額外所得稅準備金,導致 MMJ 業務的遞延所得稅資產價值減少。
So non-GAAP net income for the third quarter was $620 million, or $0.54 a share.
因此,第三季度非 GAAP 淨收入為 6.2 億美元,即每股 0.54 美元。
Let's turn to results by product line, starting with DRAM.
讓我們看看產品線的結果,從 DRAM 開始。
DRAM revenue decreased approximately 13% compared to the second quarter, reflecting approximately a 10% decrease in per-bit average selling prices and relatively flat sales volumes.
DRAM 收入與第二季度相比下降了約 13%,這反映了每比特平均售價下降約 10% 和相對平穩的銷量。
DRAM gross margin was in the upper 30s range, as cost per bit decreased approximately 6%.
DRAM 毛利率在 30 年代以上,因為每比特成本下降了約 6%。
As was previously noted, we adjusted our output mix during the quarter and exited with relatively flat DRAM inventory levels.
如前所述,我們在本季度調整了產量組合,並以相對平穩的 DRAM 庫存水平退出。
On the trade NAND side, which includes our growing MCP business, revenue increased approximately 3% in the third quarter, with average selling prices increasing approximately 6%, partially offset by a slight decrease in sales volume.
在貿易 NAND 方面,包括我們不斷增長的 MCP 業務,第三季度收入增長約 3%,平均售價增長約 6%,部分被銷量小幅下降所抵消。
The increase in the trade NAND average selling price was mix related, as higher ASP units grew relatively faster than the overall average.
交易 NAND 平均售價的上漲與混合相關,因為較高的 ASP 單位增長相對快於整體平均水平。
Trade NAND gross margin improved slightly compared to the prior quarter, and was in the low 20% range as the increase in mix-related ASP exceeded the higher related costs.
與上一季度相比,Trade NAND 毛利率略有改善,並且由於與混合相關的 ASP 的增長超過了較高的相關成本,因此處於 20% 的低位範圍內。
The Company generated operating cash flow of $1.3 billion during the third quarter, and ended the quarter with $7.3 billion in cash and marketable investments.
公司在第三季度產生了 13 億美元的經營現金流,並在本季度末以 73 億美元的現金和有價投資。
During the third quarter, we received $1 billion in proceeds from the issuance of high yield notes, and we deployed $782 million to repurchase a portion of the outstanding series C and D convertible notes.
在第三季度,我們從發行高收益票據中獲得了 10 億美元的收益,我們部署了 7.82 億美元來回購部分流通的 C 和 D 系列可轉換票據。
Cash expenditures for property, plant, and equipment during the first three quarters were $2.3 billion, and we continue to expect capital expenditures to be within our previously forecasted FY15 range of $3.6 billion to $4 billion.
前三個季度的不動產、廠房和設備現金支出為 23 億美元,我們繼續預計資本支出將在我們之前預測的 2015 財年 36 億美元至 40 億美元的範圍內。
SG&A expense for the quarter was below our guided range as a result of lower legal costs, while research and development expense was above our guided range, primarily due to higher volumes of wafers used for development of new products and technologies.
由於較低的法律成本,本季度的 SG&A 費用低於我們的指導範圍,而研發費用高於我們的指導範圍,主要是由於用於開發新產品和技術的晶圓數量增加。
Now, looking to guidance for the fourth quarter.
現在,尋找第四季度的指導。
DRAM gross margins for the fourth quarter, using quarter-to-date ASP and projected mix for the quarter, should be down mid-single digits compared to the third quarter, based on bit production, flat to slightly up, while average selling prices will be down mid- to high-single digits, and cost per bit up low-single digits.
第四季度的 DRAM 毛利率,使用本季度迄今為止的 ASP 和預計的季度組合,與第三季度相比應該下降中個位數,基於比特生產,持平到小幅上升,而平均售價將下降到中高個位數,每比特成本上升到低個位數。
Key items affecting our DRAM guidance for the fourth quarter include the continued effects of higher mix of mobile and DDR4 products, which have larger die sizes, and therefore, produce fewer bits per wafer.
影響我們第四季度 DRAM 指導的關鍵項目包括移動和 DDR4 產品的更高組合的持續影響,這些產品具有更大的芯片尺寸,因此每個晶圓產生的位數更少。
Fiscal Q4 quarter-to-date mix-adjusted ASP is below the third-quarter average, due primarily to reductions in PC DRAM and cloud server ASPs.
第四季度至今的混合調整後平均售價低於第三季度平均水平,主要是由於 PC DRAM 和雲服務器平均售價下降。
Pricing in mobile and specialty DRAM remains relatively stable.
移動和專用 DRAM 的價格保持相對穩定。
We have and will continue to carefully balance output volumes between our end markets.
我們已經並將繼續謹慎平衡終端市場之間的產量。
The trade NAND gross margins for the fourth quarter, using quarter-to-date average ASP and projected mix for the quarter, are expected to be flat compared to the third quarter, based on bit production down low- to mid-single digits, while ASPs are relatively stable and cost per bit is approximately flat.
第四季度的貿易 NAND 毛利率,使用本季度迄今為止的平均 ASP 和預計的季度組合,預計與第三季度相比持平,基於位產量下降到中低個位數,而ASP 相對穩定,每比特成本大致持平。
Key trends for the fourth quarter affecting this guidance are like-for-like pricing down slightly, offset by average selling price improvements on changes in mix, and continued focus on mobile and managed NAND products.
影響該指引的第四季度的主要趨勢是同類定價略有下降,但被組合變化導致的平均售價提高以及繼續關注移動和託管 NAND 產品所抵消。
These products generally have both higher ASPs and cost.
這些產品通常具有較高的平均售價和成本。
On a consolidated basis, we are guiding total revenue for the fourth quarter in the range of $3.45 billion to $3.7 billion.
在綜合基礎上,我們指導第四季度的總收入在 34.5 億美元至 37 億美元之間。
Looking at other P&L and cash flow results and guidance, SG&A spending in the fourth quarter is expected to be in the range of $180 million, with research and development expense in the range of $400 million.
從其他損益和現金流結果和指導來看,第四季度的 SG&A 支出預計在 1.8 億美元範圍內,研發費用在 4 億美元範圍內。
For non-GAAP guidance for fourth quarter, please refer to the dilution table posted along with other materials for this call on our website.
有關第四季度的非 GAAP 指導,請參閱我們網站上與本次電話會議的其他材料一起發布的稀釋表。
The dilution table reflects the antidilutive effects of our capped calls at various stock prices.
稀釋表反映了我們在不同股票價格的上限看漲期權的反稀釋效應。
Now, I'll turn it back over to Mark Durcan.
現在,我將把它交還給 Mark Durcan。
- CEO & Director
- CEO & Director
Thanks, Ernie.
謝謝,厄尼。
In summary, I believe Micron executed well in fiscal Q3 as we supported our customers across a broad range of market segments.
總而言之,我相信美光在第三財季表現良好,因為我們在廣泛的細分市場為客戶提供支持。
We expect to continue to similarly navigate changing market conditions in fiscal Q4.
我們預計第四財季將繼續以類似方式應對不斷變化的市場狀況。
Micron is executing on key milestones in technology employment and product introductions.
美光正在執行技術就業和產品介紹方面的關鍵里程碑。
We believe strongly in the future of the industry and our Company.
我們堅信行業和我們公司的未來。
Operator, I think we're ready to begin Q&A.
接線員,我想我們已經準備好開始問答了。
Operator
Operator
(Operator Instructions)
(操作員說明)
Harlan Sur from JPMorgan.
摩根大通的 Harlan Sur。
- Analyst
- Analyst
DRAM revenue bit shipments were down slightly quarter on quarter.
DRAM 收入位出貨量環比略有下降。
Can you just tell us what your bit production growth was?
您能告訴我們您的鑽頭產量增長是多少嗎?
I think you said you didn't build any inventory.
我想你說你沒有建立任何庫存。
Also, I think you've previously talked about high-single-digits production shipment growth over the next couple of quarters.
此外,我認為您之前曾談到未來幾個季度的高個位數出貨量增長。
But the main quarter results in the August quarter guidance certainly doesn't seem to be suggesting this.
但 8 月季度指引中的主要季度結果似乎並沒有暗示這一點。
Is the Micron Team still targeting bit shipment growth in the mid-teens range this year?
美光團隊今年是否仍以十幾歲左右的位出貨量增長為目標?
- CEO & Director
- CEO & Director
This is Mark Durcan.
這是馬克·杜肯。
Maybe I'll start with the last part of that question, and then Mark Adams can comment a little bit on the mix effects and what happened with DRAM sales bits.
也許我會從那個問題的最後一部分開始,然後馬克亞當斯可以評論一下混合效果以及 DRAM 銷售位發生了什麼。
For 2015, I think it's still fair to say that had we not had mix adjustments as we moved through the year, we would still be driving to a high-teens number for DRAM bit growth.
對於 2015 年,我認為仍然可以公平地說,如果我們在這一年中沒有進行混合調整,我們仍然會推動 DRAM 位增長達到十幾歲的數字。
But obviously, the number for the year is now going to be less than that given the changes we've made as we move through the year.
但顯然,鑑於我們在這一年中所做的改變,今年的數字現在將少於這個數字。
As we think forward, over the longer-term, clearly, we've said in the past and we continue to reiterate that we will be higher than market as we move to calendar 2016.
展望未來,從長遠來看,很明顯,我們過去曾說過,並且我們繼續重申,隨著我們進入 2016 年日曆,我們將高於市場。
On the NAND front, we've been less than market in 2015, and we are still exactly what our capital plans look like for 2016, and we'll dial those based on market conditions, as well as ongoing evaluation of the technology introductions in Singapore relative to 3D NAND and deployment of other advanced technologies there.
在 NAND 方面,我們在 2015 年一直低於市場,而我們仍然是 2016 年的資本計劃,我們將根據市場情況以及對技術引入的持續評估進行調整新加坡相對於 3D NAND 和其他先進技術的部署。
Mark, if you want to take the DRAM sales bits and the mix effects that drove that, maybe that's the best approach.
馬克,如果你想了解 DRAM 的銷售位和推動它的混合效應,也許這是最好的方法。
- President
- President
We've said all along that we will obviously take in the market dynamics into play as we think about how we allocate our capacity, and given some of the headwinds in the PC market, we have redacted some of that capacity to either more strategic long-term markets, such as the DDR4, and then some of the PC [compute] bits just to more attractive long-term stable markets.
我們一直在說,在考慮如何分配產能時,我們顯然會考慮市場動態,並且鑑於 PC 市場的一些不利因素,我們已將其中一些產能修改為更具戰略意義的長期長期市場,例如 DDR4,然後是一些 PC [計算] 位,只是為了更具吸引力的長期穩定市場。
A good example of that would be cloud servers.
雲服務器就是一個很好的例子。
Another example would be our mobile business.
另一個例子是我們的移動業務。
We think those are the right things to do, but they do have a lowering effect on the bit growth.
我們認為這些是正確的做法,但它們確實會降低比特增長。
- Analyst
- Analyst
Okay.
好的。
Great.
偉大的。
And just my follow-up question on the NAND front.
只是我在 NAND 方面的後續問題。
I think the Team is starting to make the move to 16-nanometer TLC or driving some production of 3D, obviously, that will be a bigger part of the mix in the second half of this year and next year.
我認為團隊正在開始轉向 16 納米 TLC 或推動一些 3D 的生產,顯然,這將在今年下半年和明年成為更大的一部分。
But the Team is still looking for a decline in production growth in the August quarter?
但團隊還在尋找 8 月季度產量增長的下滑?
What's your sense on when we should expect bit production to start to inflect higher for your NAND business?
您對我們應該預期比特生產何時開始對您的 NAND 業務產生更高影響有什麼看法?
- CEO & Director
- CEO & Director
Again, that's going to depend on the details of the mix decisions we make.
同樣,這將取決於我們做出的混合決策的細節。
What's been going on here over the last quarter or two is that as we transition to higher percent of SSD sales, we build [WIP], and so the time the product takes through the line increases, and that creates a dip over a confined period of time as we build that WIP.
過去一兩個季度發生的情況是,隨著我們過渡到更高百分比的 SSD 銷售,我們構建 [WIP],因此產品通過生產線的時間增加,這會在有限的時間內造成下降我們構建該 WIP 的時間。
Mobile is a similar type of effect.
移動是一種類似的效果。
Some of that output goes out in MTPs as well.
其中一些輸出也會在 MTP 中輸出。
- Analyst
- Analyst
Okay.
好的。
Thank you.
謝謝你。
- CEO & Director
- CEO & Director
The larger question is exactly when will be see NAND bit growth.
更大的問題是何時會看到 NAND 位增長。
I think you'll see that emerge as we move through the next number of quarters.
我認為隨著我們接下來的幾個季度,你會看到這種情況出現。
- Analyst
- Analyst
Thank you.
謝謝你。
Operator
Operator
Romit Shah from Nomura.
來自野村的 Romit Shah。
- Analyst
- Analyst
Mark, you mentioned that for this year, your expectation is that DRAM demand will exceed supply.
Mark,您提到今年,您的預期是 DRAM 需求將超過供應。
But ASPs year to date and DRAM are clearly wore than expectations.
但今年迄今為止的 ASP 和 DRAM 顯然比預期的要好。
How do we reconcile that?
我們如何調和呢?
- CEO & Director
- CEO & Director
What I tried to indicate as that I think in aggregate for the year, the demand is going to exceed the supply, which I think your takeaway from that would be that we believe that demand is going to be higher in the back half of the year, as we said on the last call, and as we continue to believe.
我試圖表明的是,我認為今年的總體需求將超過供應,我認為您從中得出的結論是,我們認為需求將在下半年更高,正如我們在上次通話中所說的那樣,並且我們繼續相信。
So that as you cume that up over the entire year, you will come to the conclusion that the growth that we continue to see in some of the other markets -- mobile, data center, enterprise server, et cetera, and networking -- will offset what's been a slow PC period.
因此,當您計算全年的情況時,您會得出結論,我們在其他一些市場(移動、數據中心、企業服務器等)和網絡中繼續看到的增長將抵消了緩慢的 PC 時期。
Even PCs, I think, our view is that by the time we get to the end of the year, notwithstanding the decrease in unit sales, there'll be a small net growth in bits into the PC segment.
即使是個人電腦,我認為,我們的觀點是,到今年年底,儘管單位銷量下降,但進入個人電腦領域的比特數將出現小幅淨增長。
- Analyst
- Analyst
What I'm alluding to is that if you look at the ASP trend over the last few periods and your DRAM bit growth relative to peers, I'm just curious, to what extent do you believe that the industry is still being rational?
我的意思是,如果你看看過去幾個時期的 ASP 趨勢以及相對於同行的 DRAM 位增長,我只是好奇,你認為這個行業在多大程度上仍然是理性的?
- CEO & Director
- CEO & Director
I think it's fair to say that probably nobody expected the PC segment to be as low as it's been.
我認為可以公平地說,可能沒有人期望 PC 細分市場會像以前那樣低。
I think it's also reasonable to expect that in an industry with a number of high-growth segments, balancing supply and demand is never going to be precise.
我認為,在一個擁有許多高增長細分市場的行業中,平衡供需永遠不會是精確的,這也是合理的。
So ripples in the relative balance of supply and demand I believe are inevitable in a market like this.
因此,我認為在這樣的市場中,供需相對平衡的波動是不可避免的。
And what I would say is that probably supply got a little bit further ahead of demand than many of us anticipated but that it's not necessarily and indicator of a deliberate strategy by any particular player in the marketplace.
我要說的是,供應可能比我們許多人預期的要提前一點,但這並不一定是市場上任何特定參與者深思熟慮的策略的指標。
- Analyst
- Analyst
Okay.
好的。
Thank you very much.
非常感謝。
Operator
Operator
Mehdi Hosseini from SIG.
來自 SIG 的 Mehdi Hosseini。
- Analyst
- Analyst
I go back to a prior question, and in that context, when we go back to when industry consolidated, we all expected that mobile and servers are going to be the more of a secular growth driver, and these two segments, obviously, carry a [guard] penalty.
我回到之前的問題,在這種情況下,當我們回到行業整合的時候,我們都預計移動和服務器將成為長期增長的驅動力,而這兩個領域顯然承載著[守衛]懲罰。
Given the consolidated industry, why is the industry more proactively seeking higher margin?
行業整合後,為什麼行業更主動尋求更高的利潤率?
If there's a mix issue in the near term, it seems to me that these headwinds are more structural since the demand drivers are actually in the mobile and server.
如果短期內存在混合問題,在我看來,這些不利因素更具結構性,因為需求驅動因素實際上在移動和服務器中。
So I wonder if you can help me better understand how the industry is going to overcome this, especially as migration to (inaudible) 20 nanometer is going to be relatively more challenging and lengthier?
所以我想知道您是否可以幫助我更好地了解該行業將如何克服這一點,尤其是在向(聽不清)20 納米的遷移相對更具挑戰性和更長的情況下?
And in that context, how would you be able to manage margins?
在這種情況下,您將如何管理利潤?
And I have a follow-up.
我有一個後續行動。
- CEO & Director
- CEO & Director
I think the answer to that question is that in an under-supply market, as we had a number of quarters ago, you tend to get margins that are higher in maybe the least attractive long-term part of the market.
我認為這個問題的答案是,在供應不足的市場中,就像我們在幾個季度前所做的那樣,你往往會在市場中可能最不吸引人的長期部分獲得更高的利潤率。
So if you think about where PC margins were, they were higher than we were experiencing in both mobile and in server, primarily because suppliers viewed those as long term least attractive and a market that was maybe less sustainable.
因此,如果您考慮一下 PC 利潤率在哪裡,它們比我們在移動和服務器方面的利潤率要高,主要是因為供應商認為這些利潤從長遠來看是最不具吸引力的,而且是一個可能不太可持續的市場。
Therefore, you see larger price swings as the relative supply and demand balance moves over time.
因此,隨著相對供需平衡隨著時間的推移而變化,您會看到更大的價格波動。
Now, as you think about what does that imply, that implies that as companies like Micron, and presumably our competitors, over time, readjust their supply to rebalance demand in different segments and pull supply out of that sector, it creates an ASP headwind for us because we're moving to products that already have lower margin, and it creates, over the short term, a more intense competition for those sockets in the high-growth sectors.
現在,當您考慮這意味著什麼時,這意味著隨著像美光這樣的公司,以及可能是我們的競爭對手,隨著時間的推移,重新調整其供應以重新平衡不同細分市場的需求並將供應撤出該行業,這給 ASP 帶來了逆風我們是因為我們正在轉向利潤率已經較低的產品,這在短期內為高增長行業的這些插座創造了更激烈的競爭。
That doesn't say anything, really, about what will happen over the longer time horizon.
實際上,這並沒有說明在更長的時間範圍內會發生什麼。
- Analyst
- Analyst
Okay.
好的。
I'm still not sure how we would be able to recoup this near-term margin headwind.
我仍然不確定我們如何能夠彌補這一近期的利潤逆風。
Is there more of a scaling?
是否有更多的縮放?
I'm still confused as how the near-term margin pressure is -- you are going to be able to overcome it and be able to manage margins.
我仍然對近期的保證金壓力感到困惑——你將能夠克服它並能夠管理保證金。
- CEO & Director
- CEO & Director
Well, I believe, over time, that in some of these other market segments, there is opportunity to differentiate and to innovate and to provide stickier solutions.
好吧,我相信,隨著時間的推移,在其他一些細分市場中,有機會進行差異化和創新,並提供更具粘性的解決方案。
There's also higher growth and longer qualification cycles.
還有更高的增長和更長的資格週期。
What a company like Micron does is they look at -- and I think Mark already alluded to this, but I will re-say it anyway -- we are looking to place our product not necessarily in the short term to pick off the highest margin point, but to make sure we're placing our product where we're going to have growth and stability, and where over time, we can drive higher margins.
像美光這樣的公司所做的是他們關注的——我認為馬克已經提到了這一點,但我還是會重新說一遍——我們希望在短期內不一定要投放我們的產品來獲得最高利潤點,但是為了確保我們將我們的產品放在我們將有增長和穩定性的地方,以及隨著時間的推移,我們可以推動更高的利潤率。
And so sometimes, you want to be a little bit proactive and out in front of that.
因此,有時,您想積極主動一些,並走在前面。
- Analyst
- Analyst
Got it.
知道了。
And, then quickly on NAND, right now, your plans are to build the pilot line, that 3D NAND pilot line in Singapore, and then 48-layer spec samples are coming out.
然後,很快在 NAND 上,現在,您的計劃是在新加坡建立試驗線,即 3D NAND 試驗線,然後 48 層規格樣品即將問世。
My impression is that you are going to add -- put some capacity and Singapore.
我的印像是,您要添加一些容量和新加坡。
But your flash partner, Intel, is also very upbeat about the 3D NAND and technology and how they are also going to use that technology.
但是您的閃存合作夥伴英特爾也對 3D NAND 和技術以及他們將如何使用該技術非常樂觀。
So when we look into next year and beyond, how is this relationship going to work?
因此,當我們展望明年及以後,這種關係將如何運作?
Because the JV fabs are located in US, but you are initially going to ramp up capacity in Singapore.
因為合資工廠位於美國,但您最初將在新加坡增加產能。
How will the transaction play out?
交易將如何進行?
When would you actually start adding capacity in the JV locations?
您何時真正開始在合資企業中增加產能?
- CEO & Director
- CEO & Director
Let me correct a couple of things you said, just to make sure we are clear on what we're doing, and then maybe I will have a couple of comments on the Intel relationship, but I think that is something better done by the two of us as opposed to just Micron.
讓我糾正你所說的幾件事,以確保我們清楚我們在做什麼,然後也許我會對英特爾的關係發表一些評論,但我認為這兩個更好我們,而不僅僅是美光。
First of all, relative to what we are doing today, we have, as you know, a significant installed planar base in Singapore.
首先,相對於我們今天所做的,如您所知,我們在新加坡擁有重要的平面安裝基地。
We have available cleanroom space there to begin the process of converting some of that planar capacity to 3D NAND, and we are under construction of an expansion in that facility so that we can continue that transition of planar NAND to 3D NAND into the back half of 2016 and on beyond then.
我們在那裡有可用的潔淨室空間來開始將部分平面容量轉換為 3D NAND 的過程,我們正在對該設施進行擴建,以便我們可以繼續將平面 NAND 轉換為 3D NAND 到 3D NAND 的後半部分。 2016 年及以後。
There is also capacity that Micron and Intel owned jointly in Lehi, UT, and today, you are correct, that is all planar NAND capacity.
還有美光和英特爾在猶他州 Lehi 共同擁有的容量,今天,你是對的,這都是平面 NAND 容量。
One other thing.
另一件事。
I think you said 48 layers.
我想你說的是 48 層。
We are currently sampling a 32-layer 3D NAND device, and that is the device that we will initially ramp before moving to a second generation of 3D device starting in the back half of 2016.
我們目前正在對 32 層 3D NAND 設備進行採樣,這是我們將在 2016 年下半年開始轉向第二代 3D 設備之前最初推出的設備。
Now, relative to Micron's and Intel's plans for production, there's not a whole lot I can say about that today, other than to say it continues to be a very close partnership.
現在,相對於美光和英特爾的生產計劃,我今天對此無話可說,只能說它仍然是非常密切的合作夥伴關係。
We continue to develop the 3D NAND technology together.
我們將繼續共同開發 3D NAND 技術。
And we have existing long-term supply agreements with Intel to support planar NAND, and we anticipate that we will build 3D NAND for them, as well, through an agreement out of Singapore.
我們與英特爾簽訂了現有的長期供應協議,以支持平面 NAND,我們預計我們也將通過新加坡協議為他們製造 3D NAND。
That's probably all I can say, absent an agreement with Intel to share more information with you.
這可能就是我能說的全部,沒有與英特爾達成與您分享更多信息的協議。
- Analyst
- Analyst
Got it.
知道了。
Thanks much.
非常感謝。
Operator
Operator
Kevin Cassidy from Stifel.
來自 Stifel 的凱文·卡西迪。
- Analyst
- Analyst
On the transition, or moving the capacity from PC DRAM toward the more strategic DRAM, where are you with that?
在過渡或將容量從 PC DRAM 轉移到更具戰略意義的 DRAM 時,您對此有何看法?
Have you stopped the transition?
你停止過渡了嗎?
And what percentage do you think the split will be in the August quarter and going into the November quarter?
您認為 8 月季度和 11 月季度的拆分比例是多少?
- President
- President
I'm going to stop short of giving you actual numbers on allocation of our capacity for a variety of reasons.
出於各種原因,我將不再向您提供有關我們容量分配的實際數字。
But I will tell you that the process is in place.
但我會告訴你,這個過程已經到位。
You can see some of the growth we've had in certain sectors as we reported that, and so it's in process.
正如我們報導的那樣,您可以看到我們在某些領域取得的一些增長,因此正在進行中。
Mobile, overall growth rate from a segment and demand standpoint is up 50%, and PC bits are low single digits, 5% range.
移動,從細分市場和需求的角度來看,整體增長率上升了 50%,而 PC 位是低個位數,5% 的範圍。
So as we think about that, the shift we're making has to respond to that.
因此,當我們考慮這一點時,我們正在做出的轉變必須對此做出回應。
And we are on that path, as we said.
正如我們所說,我們正走在這條道路上。
We started it in Q3, and we'll continue to balance that out as the markets warrant.
我們從第三季度開始,我們將根據市場需要繼續平衡它。
- Analyst
- Analyst
Maybe just as a follow up, the visibility you have into mobile, there's some concern in the market that you could overshoot and end up with too much capacity in mobile.
也許只是作為跟進,您對移動設備的可見性,市場上存在一些擔憂,即您可能會過度使用並最終導致移動設備容量過多。
Can you talk more about some of your visibility into the mobile market?
您能多談談您對移動市場的一些了解嗎?
- President
- President
Well, I think we talked to a few things.
好吧,我想我們談了一些事情。
As I mentioned in my script, we've actually seen continued growth in content per device.
正如我在腳本中提到的,我們實際上已經看到每台設備的內容持續增長。
We see that while some people have noticed that the China market is starting to matures somewhat, we are starting to see more growth out of India and emerging markets.
我們看到,雖然有些人注意到中國市場開始有所成熟,但我們開始看到印度和新興市場出現更多增長。
So in general, our visibility is pretty good with the level of configurations both in the midrange smartphone market -- I think those unit growths are something around 90% unit growth for the year -- and the bit growth rate.
因此,總的來說,我們的知名度在中端智能手機市場的配置水平上都相當不錯——我認為這些單位增長是今年大約 90% 的單位增長——以及比特增長率。
So our visibility supports the moving of our capacity toward that, and the results of our MBU further reinforce that.
因此,我們的可見性支持我們的能力朝著這個方向發展,我們 MBU 的結果進一步加強了這一點。
- Analyst
- Analyst
Okay.
好的。
Great.
偉大的。
Thank you.
謝謝你。
Operator
Operator
Daniel Amir from Ladenburg.
來自拉登堡的丹尼爾·阿米爾。
- Analyst
- Analyst
If we look at the Inotera deal from seven, eight months ago when you talked about it, you commented that at that time, if pricing would be the same, would be significantly accretive.
如果我們從七、八個月前討論 Inotera 的交易來看,您當時評論說,如果定價相同,將會顯著增加。
How would we look at the deal right now in terms of the pricing at the moment?
就目前的定價而言,我們現在如何看待這筆交易?
Do you think something is going to change there in the next six months?
你認為在接下來的六個月裡那裡會發生什麼變化嗎?
Thanks.
謝謝。
- CEO & Director
- CEO & Director
Well, obviously, at lower pricing, the accretion from the new deal, which will begin in the beginning of calendar 2016, will be less than it would have been had pricing been flat.
很明顯,在較低的價格下,將於 2016 年初開始的新交易帶來的收益將低於價格持平時的收益。
We never assumed pricing would be flat throughout 2016.
我們從未假設 2016 年全年定價會持平。
So I think that the net takeaway is that there is less accretion from the new deal than there was on the day we signed it.
因此,我認為淨外賣是新協議的增長少於我們簽署之日的增長。
It's still reasonable to talk in terms of the types of numbers that we talked about when we first introduced the new agreement to you.
就我們第一次向您介紹新協議時所討論的數字類型而言,仍然是合理的。
- Analyst
- Analyst
So it's still accretive at pricing that we're looking at today?
因此,我們今天看到的定價仍然是增值的嗎?
Or is that not the case?
或者事實並非如此?
- CEO & Director
- CEO & Director
It's absolutely true, yes.
這絕對是真的,是的。
- Analyst
- Analyst
Okay.
好的。
And just a follow up here.
只是在這裡跟進。
In terms of the factors here for your NAND costs going forward, should we be really -- is it really the TLC mix?
就您未來 NAND 成本的因素而言,我們真的應該 - 真的是 TLC 組合嗎?
Is it more the product mix?
產品組合更多嗎?
What should we be looking at, and when?
我們應該看什麼,什麼時候看?
You said that you should start seeing in the next few quarters.
你說你應該在接下來的幾個季度開始看到。
What are really the milestones that we are looking at, that this will really start impacting?
我們正在關注的真正里程碑是什麼,這將真正開始影響?
- President
- President
Well, I think at the risk of repeating our story on NAND, I think you've already -- we've already demonstrated substantial growth in the mobile NAND segment, and our TLC components shipping in Q3 will be the catalyst for our future growth there.
好吧,我認為冒著重複我們關於 NAND 的故事的風險,我想你已經——我們已經展示了移動 NAND 領域的大幅增長,我們在第三季度出貨的 TLC 組件將成為我們未來增長的催化劑那裡。
As a follow on, we have a consumer TLC drive coming out in the Q1 of our fiscal year.
作為後續,我們在本財年第一季度推出了消費者 TLC 驅動器。
And so when you look at those dynamics coupled with the vertical NAND enterprise progress we're making, we feel that those are still the pillars to our success in improving our operating performance in the overall NAND business.
因此,當您查看這些動態以及我們正在取得的垂直 NAND 企業進展時,我們認為這些仍然是我們成功提高整體 NAND 業務運營績效的支柱。
- Analyst
- Analyst
Okay.
好的。
Great.
偉大的。
Thanks a lot.
非常感謝。
Operator
Operator
Monika Garg from Pacific Crest.
來自 Pacific Crest 的 Monika Garg。
- Analyst
- Analyst
Mark, you were talking about, like, move from mobile DRAM to -- I'm sorry -- move from PC DRAM to mobile DRAM has been a headwind to the margins.
馬克,你說的是,從移動 DRAM 轉移到 - 對不起 - 從 PC DRAM 轉移到移動 DRAM 一直是利潤的逆風。
So are the margins now similar in PC DRAM and mobile DRAM, or is the move still a headwind?
那麼現在 PC DRAM 和移動 DRAM 的利潤率是否相似,或者這一舉措仍然是逆風?
- President
- President
Monica, this is Mark Adams.
莫妮卡,這是馬克亞當斯。
The margins are getting closer, and we always run the risk of trying to explain that through the past 90 days and what's happened.
利潤越來越近,我們總是冒著試圖解釋過去 90 天以及發生了什麼的風險。
At the beginning of the quarter, they were certainly farther away from each other, and today, they are approaching each other.
在季初,他們之間的距離肯定是越來越遠,而今天,他們正在接近彼此。
- Analyst
- Analyst
Okay.
好的。
Thanks.
謝謝。
Then one question on the NAND side.
然後是 NAND 方面的一個問題。
The SBU operating margins been negative for the last -- this quarter, last quarter.
SBU 的營業利潤率上一季度為負數——本季度,上一季度。
You've talked about move to TLC, and you also talked about that pricing is benign in the market.
你談到了轉向 TLC,你還談到了市場上的定價是良性的。
So when can we see SBU margins to move higher into positive territory?
那麼我們什麼時候可以看到 SBU 的利潤率上升到正值區域呢?
- CEO & Director
- CEO & Director
Well, I think you will see that over time, Monica.
嗯,我想你會隨著時間的推移看到這一點,莫妮卡。
But don't forget that our NAND business is actually segregated across the BUs.
但不要忘記,我們的 NAND 業務實際上是在各個 BU 之間隔離的。
So we sell NAND not only through the SBU, but there is a significant piece, as Mark Adams just mentioned, going out in mobile space.
因此,我們不僅通過 SBU 銷售 NAND,而且正如 Mark Adams 剛剛提到的那樣,有一個重要的部分進入移動領域。
We also said there is significant growth in the embedded space for NAND.
我們還說 NAND 的嵌入式空間有顯著增長。
Ant then there's a counter factor that you should always be cognizant of, that we sell to Intel through the NAND BU.
Ant 然後有一個你應該始終意識到的反因素,我們通過 NAND BU 向英特爾銷售。
Sometimes, there are lots of facets to our relationship with Intel that have benefits to us that aren't always about selling to them at the highest ASP.
有時,我們與英特爾的關係有很多方面對我們有好處,但並不總是以最高的 ASP 賣給他們。
- Analyst
- Analyst
Okay.
好的。
Thank you.
謝謝你。
Operator
Operator
Timothy Arcuri from Cowen and Company.
來自 Cowen and Company 的 Timothy Arcuri。
- Analyst
- Analyst
I actually had two questions.
我實際上有兩個問題。
First of all, do think costs are guiding up low singles?
首先,是否認為成本正在引導低單曲?
I get the mix issue that you cited with mobile and DDR4, but it still seems a little odd, given that Inotera is roughly one-third of the bits, and that still based on market minus.
我得到了你提到的移動和 DDR4 的混合問題,但它似乎仍然有點奇怪,因為 Inotera 大約是三分之一,而且仍然基於市場負數。
So is there something behind the scenes happening with cost?
那麼,在幕後是否有與成本有關的事情發生?
And I had a follow up.
我進行了跟進。
Thanks.
謝謝。
- President
- President
The real answer to that is there's nothing behind the scenes other than what normally happens in our industry on startup.
真正的答案是,除了我們行業在啟動時通常發生的事情之外,沒有什麼幕後的東西。
You've got some parallel startup paths that are influencing cost, along with the mix effect that you mentioned in mobile.
您有一些影響成本的平行啟動路徑,以及您在移動設備中提到的混合效應。
But you've got DDR4 ramp cost, and in parallel, you've got 20-nanometer startup costs, that when blended, are providing a little bit of a cost headwind in the short term.
但是你有 DDR4 斜坡成本,同時,你有 20 納米的啟動成本,當混合時,在短期內會帶來一點成本逆風。
- Analyst
- Analyst
Okay.
好的。
Thanks.
謝謝。
And then just a quick question on CapEx.
然後只是一個關於資本支出的快速問題。
To hit your full $3.8 billion midpoint, the CapEx has to be like $1.5 billion, $1.6 billion just in August, which would be like a $6-billion annual run rate headed into FY16.
要達到 38 億美元的全部中點,資本支出必須達到 15 億美元,僅在 8 月份就達到 16 億美元,這相當於進入 2016 財年的 60 億美元的年運行率。
How should we think about that?
我們應該怎麼想?
Is that like an anomaly in August, or should we think about that as being close to what the right run rate is as you look into FY16?
這是否像 8 月份的異常情況,還是我們應該將其視為接近 2016 財年的正確運行率?
- CFO
- CFO
Tim, this is Ernie.
蒂姆,這是厄尼。
As we've said earlier, we've been looking at CapEx very carefully as we respond to market conditions, and obviously, we still feel that that range in the $4-billion or so range for this year makes sense.
正如我們之前所說,在對市場狀況做出反應時,我們一直在非常仔細地研究資本支出,顯然,我們仍然認為今年 40 億美元左右的範圍是有道理的。
I wouldn't necessarily imply or project that forward as a run rate into FY16.
我不一定會暗示或將其預測為 2016 財年的運行率。
We are still in the process of working through our plans.
我們仍在製定我們的計劃。
Operator
Operator
C.J. Muse from Evercore ISI.
來自 Evercore ISI 的 C.J. Muse。
- Analyst
- Analyst
First question, was hoping you could dig a little bit deeper on your 20-nanometer ramp, both at Inotera and internally.
第一個問題,希望你能在你的 20 納米坡道上更深入地挖掘,無論是在 Inotera 還是在內部。
And you are focused on when you expect to be cost competitive with Samsung and Himax.
當您期望與三星和 Himax 具有成本競爭力時,您會專注於這些。
And then as a follow on to that, your plans for 1x and your ability to reduce Samsung's time-to-market advantage.
然後作為後續行動,您的 1 倍計劃以及您減少三星上市時間優勢的能力。
Would love to hear your thoughts.
很想听聽你的想法。
- CEO & Director
- CEO & Director
First of all, I think the best way to characterize the state of our 20-nanometer deployment today is we're running at relatively low volumes, but it's going really very, very well, where we've got low volume, but we're driving fast cycle time through the fab.
首先,我認為描述我們今天 20 納米部署狀態的最佳方式是我們以相對較低的容量運行,但它真的非常非常好,我們的容量很小,但我們重新推動工廠的快速循環時間。
The run-ahead lots and the yields are progressing fabulously.
超前批次和產量進展驚人。
We feel pretty good about the way that ramp is going both at Inotera and in Hiroshima.
我們對 Inotera 和廣島的坡道運行方式感覺非常好。
Of course, as we just said, the costs are higher.
當然,正如我們剛才所說,成本更高。
It takes a while to work through that, not only because you are driving (inaudible) up, but also because at low volume, you don't have fully-loaded tools, and you have a lot of tools that you are installing that you haven't managed to load yet.
解決這個問題需要一段時間,不僅因為您正在開車(聽不清),還因為在低音量時,您沒有完全加載的工具,並且您有很多要安裝的工具還沒有設法加載。
That process is going to take a while, until we are really driving to significant volume.
這個過程需要一段時間,直到我們真正推動大量交易。
Now, the way to think about that is in terms of bit crossover, and we think that we'll have bit crossover 20-nanometer versus the other nodes in the first half of calendar 2016.
現在,考慮這一點的方式是位交叉,我們認為與 2016 年上半年的其他節點相比,我們將有 20 納米的位交叉。
That's probably about as precise as I would want to be about that.
這可能和我想要的一樣精確。
Now, for 1x, we think that as we closed the Elpida transaction, we added significant technology development resources to our Team.
現在,對於 1x,我們認為當我們完成 Elpida 交易時,我們為我們的團隊增加了重要的技術開發資源。
We've been running a higher R&D spend as we ran more resources deployed on multiple technology nodes, and the 1x node will be the first one that comes out as a result of both those teams working together.
隨著我們在多個技術節點上部署更多資源,我們一直在運行更高的研發支出,而 1x 節點將是兩個團隊合作的結果。
So yes, we expect to close that gap relative to Samsung.
所以是的,我們希望縮小與三星的差距。
It's not going to be necessarily directly on top of it.
它不一定直接在它之上。
But remember, what Micron is doing right now is we're converting a lot of capacity from 30-nanometer to 20-nanometer, which is a double step, and so we're going to get a big bang for that as we move throughout 2016.
但請記住,美光現在正在做的是我們正在將大量容量從 30 納米轉換為 20 納米,這是一個雙步驟,因此我們將在整個過程中獲得巨大的成功2016 年。
The steps to 16-nanometer are smaller to begin with.
16 納米的步驟從一開始就更小。
In particular, if you looked at some of the early Samsung samples that are floating around, you'll notice that the architecture changes that they've incorporated don't drive nearly the size of die reduction or bit density increase that you would see going from even 25-nanometer or 30.
特別是,如果您查看一些漂浮的早期三星樣品,您會注意到它們所包含的架構更改幾乎不會推動您看到的芯片減少或位密度增加的大小甚至從 25 納米或 30 納米。
So we absolutely expect to close the gap with Samsung as we move to 16-nanometer, both in timing and in terms of overall deployed bit density in the market.
因此,隨著我們轉向 16 納米,我們絕對希望在時間和市場上整體部署的位密度方面縮小與三星的差距。
- Analyst
- Analyst
That's very helpful.
這很有幫助。
As my follow up, can you talk about, within your outlook for DRAM pricing down mid- to high-single digits, what you are assuming on the mobile side?
作為我的後續,您能否談談在您對 DRAM 定價中高個位數的展望中,您對移動端的假設是什麼?
And if you can comment at all in your positioning within tier 1 handsets into the back half of the year, would love to hear your thoughts.
如果你能在今年下半年對你在 1 級手機中的定位發表評論,很想听聽你的想法。
- President
- President
We don't get in the business of forecasting pricing too much.
我們不會過多地預測定價。
Generally, what I will say characteristic about the mobile business is that it's not going to exactly behave like the PC business.
一般來說,我要說的關於移動業務的特點是它不會完全像 PC 業務那樣行事。
That tends to be more of a design-win type business, your design into a device or platform that has long-lasting lifecycles relative to interchangeability of PC modules.
這往往更像是一種設計雙贏類型的業務,您的設計成為一種設備或平台,相對於 PC 模塊的可互換性而言,它具有較長的生命週期。
In light of that, it behaves a little bit more like a predictable pricing model, where there is a sales price and a cost reduction target over through a longer period, maybe 6 months, maybe 12 months.
鑑於此,它的行為更像是一個可預測的定價模型,其中有一個銷售價格和一個較長時期內的成本降低目標,可能是 6 個月,也可能是 12 個月。
And so the pricing behavior in mobile is somewhat different, and we anticipate that to be similar going forward, and it's reflective of our current mobile performance.
因此,移動端的定價行為有些不同,我們預計未來也會如此,這反映了我們當前的移動端表現。
- Analyst
- Analyst
So it's fair to characterize mobile declining less than PC?
因此,將移動設備的下降幅度低於 PC 的特徵是公平的嗎?
- President
- President
I think that's fair.
我認為這是公平的。
- Analyst
- Analyst
Okay.
好的。
Great.
偉大的。
Thanks so much.
非常感謝。
Operator
Operator
John Pitzer from Credit Suisse.
瑞士信貸的約翰·皮策。
- Analyst
- Analyst
I want to go back to the question that Tim Arcuri asked earlier about DRAM cost per bit going up.
我想回到 Tim Arcuri 之前提出的關於 DRAM 每比特成本上升的問題。
I would've thought that given one-third of your bits come from Inotera, and that's based upon market pricing in arrears, that the price declines we've seen over the last three months would be a big tailwind to cost for you guys in the August quarter, and I guess that's wrong.
我會認為,鑑於你們三分之一的比特來自 Inotera,這是基於拖欠的市場定價,我們在過去三個月中看到的價格下跌對你們來說是一個巨大的順風八月季度,我想那是錯誤的。
I'm trying to understand why that's wrong.
我試圖理解為什麼這是錯誤的。
And more importantly, as you think about the headwinds on the cost side in DRAM in the August quarter, do they begin to reverse in the November quarter?
更重要的是,當您考慮 DRAM 在 8 月季度的成本方面的不利因素時,它們是否會在 11 月季度開始逆轉?
How do we start to think about the cost curve in DRAM going back down instead of up?
我們如何開始考慮 DRAM 的成本曲線回落而不是回升?
- CEO & Director
- CEO & Director
Let me take the first part, and then maybe I'll have you restate the second part.
讓我講第一部分,然後也許我會讓你重述第二部分。
Relative to IMI bits, we're early in the ramp.
相對於 IMI 位,我們處於起步階段。
There's not a lot of upsurge in IMI bits yet, but it is coming.
IMI 位的熱潮還不是很大,但它即將到來。
I think the effect will be, as you say, with more volume at any given price, we are going to get a larger dollar discount, not necessarily a larger percentage discount.
正如你所說,我認為效果將是,在任何給定價格下,隨著數量的增加,我們將獲得更大的美元折扣,不一定是更大的折扣百分比。
So as we move through the rest of 2015, you do have to contemplate that the discount at IMI is also a function of their cash flow.
因此,當我們度過 2015 年剩餘的時間時,您必須考慮到 IMI 的折扣也是他們現金流量的函數。
That stands apart and aside from the effect of market pricing.
這與市場定價的影響不同。
You also have to contemplate that at lower market pricing, a given fixed percent discount is a smaller dollar discount.
您還必須考慮,在較低的市場定價下,給定的固定百分比折扣是較小的美元折扣。
So all those things go into the hopper, John.
所以所有這些東西都進入了料斗,約翰。
I'm not sure how you are doing your calculus, but those are all effects.
我不確定你是如何進行微積分的,但這些都是影響。
We will, obviously, as the 20-nanometer becomes a more significant piece of their output, hopefully, see an increase in revenue and an increase in total dollar discount as that happens.
顯然,隨著 20 納米成為他們產出中更重要的一部分,我們希望看到收入的增加和總美元折扣的增加。
- Analyst
- Analyst
And then Mark, maybe just to restate the second half of the question was, beyond the August quarter, if all else being equal, given the ramps that are causing headwinds in the August quarter, would you expect cost per bits in DRAM to start turning down, or do we really have to wait until you get to that bit crossover at 20 nanometer you talked about earlier?
然後馬克,也許只是為了重申問題的後半部分,如果在其他條件相同的情況下,考慮到 8 月季度導致逆風的坡道,在 8 月季度之後,您是否預計 DRAM 中的每比特成本開始轉向向下,或者我們真的必須等到你之前談到的 20 納米的位交叉?
- CEO & Director
- CEO & Director
Think it's going to depend a lot on mix, unfortunately.
不幸的是,認為這在很大程度上取決於混合。
I hate to say that, but we've got ongoing DDR4, which drives cost up given the bit density per square centimeter of silicon.
我不想這麼說,但我們有持續的 DDR4,考慮到每平方厘米矽的位密度,這會推高成本。
We've got LPDDR4.
我們有 LPDDR4。
We've got mobile DRAM and server DRAM, all of which can drive higher costs.
我們有移動 DRAM 和服務器 DRAM,所有這些都會導致更高的成本。
But like-for-like, fair to say, yes, costs are going to be coming down as we get a little bit further into this 20-nanometer transition.
但是,公平地說,是的,隨著我們在這個 20 納米的過渡中走得更遠,成本將會下降。
- Analyst
- Analyst
Then for my second question to Mark Adams, Mark, given some of these headwinds in the August quarter, it seems like the P&L is more dependent upon just overall pricing.
然後對於我向馬克亞當斯提出的第二個問題,馬克,考慮到 8 月季度的一些不利因素,損益表似乎更依賴於整體定價。
And you made some commentary about PC production being below seasonally weak sellthrough for the market and you expect that to reverse.
你對個人電腦生產低於季節性疲軟的市場銷售量發表了一些評論,你預計這種情況會逆轉。
I'm just curious why.
我只是好奇為什麼。
What the catalyst?
什麼催化劑?
Importantly, can you talk a little bit about inventory outside of Micron relative to PC DRAM?
重要的是,您能否談談美光以外相對於 PC DRAM 的庫存?
- President
- President
Sure.
當然。
The comments on the PC business were through our Q3, relative to the performance.
相對於業績,對 PC 業務的評論是通過我們的第三季度進行的。
We do feel that, whether it be Microsoft Windows 10 or Skylight or other Intel roadmap benefits from PC and pent-up demand, we just think it should be moderately better than in the first half, and thus have a better effect on the overall market than in the first half of the year.
我們確實認為,無論是微軟 Windows 10 還是 Skylight 或其他英特爾路線圖受益於 PC 和被壓抑的需求,我們只是認為它應該比上半年略好,從而對整體市場產生更好的影響與上半年相比。
So we think PC should perform better in the second half.
所以我們認為PC應該在下半年表現更好。
Relative to the DRAM side, and given the mix shifting away from PCs, we think that combination leads to more stability in the pricing in the back half of the year.
相對於 DRAM 方面,鑑於組合從 PC 轉移,我們認為這種組合會導致下半年定價更加穩定。
Now, you asked about the channel.
現在,您詢問了頻道。
It's an issue in dynamic.
這是動態的問題。
By and large, the OEMs and the major suppliers to OEMs -- there's one channel partner is heavily investing a lot of inventory.
總的來說,原始設備製造商和原始設備製造商的主要供應商——有一個渠道合作夥伴正在大量投資大量庫存。
Having said that, a number of the other channel suppliers are actually seasonally lower than the -- what did we say -- the three to four week normal inventory levels.
話雖如此,許多其他渠道供應商實際上季節性低於 - 我們所說的 - 三到四周的正常庫存水平。
So as these things improve and there is balance, we don't think it takes a lot to get more balance back into the compute segment, which would have a very positive effect on the overall business.
因此,隨著這些事情的改善和平衡,我們認為將更多的平衡重新回到計算領域並不需要太多,這將對整體業務產生非常積極的影響。
- Analyst
- Analyst
Thank you.
謝謝你。
- IR
- IR
With that, we have time for about one more question.
有了這個,我們有時間再問一個問題。
Operator
Operator
Steven Fox from Cross Research.
來自 Cross Research 的 Steven Fox。
- Analyst
- Analyst
Hopefully, this isn't too repetitive.
希望這不是太重複。
But just going back on the DRAM gross margins from a different bent, I understand what you're saying about cost per bits with the mix changing.
但只是從不同的角度回到 DRAM 毛利率,我理解你所說的隨著混合變化而變化的每比特成本。
But also, as the mix changes, beyond the August quarter, shouldn't we expect some rebound in DRAM margins, and to what degree?
但是,隨著組合的變化,在 8 月季度之後,我們是否應該期望 DRAM 利潤率出現一些反彈,以及反彈到什麼程度?
Or are we looking at more of a drag from the 20-nanometer ramp.
或者我們是否正在尋找更多來自 20 納米坡道的阻力。
And then within that answer, can you just maybe talk a little bit more about DDR4 and how it's going to ramp on the mobile side?
然後在這個答案中,您能否多談談 DDR4 以及它將如何在移動端發展?
Thanks.
謝謝。
- CEO & Director
- CEO & Director
We really want to stay away, again, from predicting margins for you.
我們真的想再次遠離為您預測利潤。
But I think it's fair to say that assuming market dynamics improve, all else equal, we've got cost leverage.
但我認為公平地說,假設市場動態改善,在其他條件相同的情況下,我們就有了成本槓桿。
- Analyst
- Analyst
Fair enough.
很公平。
And how about just a little more color around DDR4 as it relates to mobile?
與移動相關的 DDR4 周圍再多一點顏色怎麼樣?
- President
- President
LPDDR4?
LPDDR4?
I think, as I said in my script, it's currently a relatively small percentage of overall bits into the mobile sector.
我認為,正如我在腳本中所說,它目前在移動領域佔整體比特的比例相對較小。
We do see that changing out toward the end of calendar year 2015 and into 2016.
我們確實看到這種情況在 2015 年年底和 2016 年發生了變化。
Today, low-power 4 is in the ultra high end, and we fell we -- obviously we're very well-positioned in those relationships.
今天,低功耗 4 處於超高端,我們跌倒了——顯然我們在這些關係中處於有利地位。
Is just a small piece of the overall mix today, and we think that will grow, and we've got the technology and are in design qualifications at these OEMs for that type of success in that product category.
只是今天整體組合的一小部分,我們認為這種情況會增長,我們擁有這些 OEM 的技術和設計資格,可以在該產品類別中取得成功。
- Analyst
- Analyst
Great.
偉大的。
Thank you very much.
非常感謝。
- IR
- IR
You bet.
你打賭。
With that, we would like to thank everyone for participating on the call today.
有了這個,我們要感謝大家今天參加電話會議。
If you will please bear with me, I need to repeat the Safe Harbor protection language.
如果你能容忍我,我需要重複安全港保護語言。
During the course of this call, we may have made forward-looking statements regarding the Company and the industry.
在本次電話會議期間,我們可能對公司和行業做出了前瞻性陳述。
These particular forward-looking statements and all other statements that may have been made on the call that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially.
這些特定的前瞻性陳述和所有其他可能在電話會議上做出的非歷史事實的陳述受到許多風險和不確定性的影響,實際結果可能存在重大差異。
For information on the important factors that may cause actual results to differ materially, please refer to our filings with the SEC, including the Company's most recent 10-Q and 10-K.
有關可能導致實際結果出現重大差異的重要因素的信息,請參閱我們向 SEC 提交的文件,包括公司最近的 10-Q 和 10-K。
Thank you.
謝謝你。
Operator
Operator
Thank you.
謝謝你。
This concludes Micron Technology's third-quarter FY15 financial release conference call.
美光科技 2015 財年第三季度財務發布電話會議到此結束。
You may now disconnect.
您現在可以斷開連接。