well, the us chips act is helping level the playing field. over the course of the last couple of decades, a lot of the manufacturing of silicon moved to asia because of the incentives provided by the governments here, and now us chips act is able to bridge the cost gap that exists in production in the us versus asia. so us chips act will provide the necessary grants and the investment tax credits to enable more manufacturing in the us. yeah, i m glad you mentioned cost, because there s a reason that the supply chains move to asia in the first place, isn t there? are you confident that the us can be the dominant manufacturer? well, the supply chains for memory manufacturing will be diversified. of course, micron has a well diversified footprint of manufacturing here in asia, and micron will continue to invest in ourfabs in asia to meet the demand needs of the future. but also in order to meet the growth in demand, we need to add new capacity. so us new manufacturing fabs that
The NOR Flash Memory Market size is estimated at USD 3.11 billion in 2023, and is expected to reach USD 4.02 billion by 2028, growing at a CAGR of 5.30%.
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food, energy and otherfactors. so these are some of the factors that have impacted some of the consumer demand. as a memory chip maker, you really have a first hand pulse of the entire industry and the demand for consumer products. you ve mentioned it already. what s your sense of the current economic conditions for the next year? our memory industry currently is experiencing inventory adjustments by our customers in various end markets, and that has resulted in a reduction in demand to the suppliers of memories. we have taken decisive actions in terms of reducing our capex, in terms of reducing the supply growth, as well as increasing underutilisation in the current fabs. these actions over time will help us to bring supply and demand in balance. so yes, the near term is challenged by the inventory adjustments, but we have confidence in the longer term demand drivers