Micron Technology’s woes continued in fiscal Q1 2016 (fiscal years end with August), and it looks like the company will not get any respite in the current quarter. This was clear in the company’s recent earnings release. Weak macroeconomic conditions and the persisting weakness in PC demand, coupled with Micron’s lagging DRAM and NAND output has impacted the company’s growth rate in the last few months. Regarding this latter factor, Micron’s production growth (or “bit” growth) has fallen behind its competitors due to the ongoing technology transitions—a transient situation. Though the current market conditions, and consequently Micron’s financial results, have been challenging, the company is still confident of its long-term growth potential.

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