For its second quarter of fiscal 2023 Micron posted a year-over-year revenue drop of nearly 53% and said its earnings will decline further in the ongoing quarter as demand for 3D NAND and DRAM remains soft. The company had to write down inventory worth billions of dollars, and said it would maintain conservative spending but would have to fire more people than it planned to this year. However, Micron remains confident that demand for memory will skyrocket by 2025 as the world embraces more computing.
