Micron Technology, Inc. is engaged in semiconductor systems. The Company's portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

"For the data center, 10 years ago PC DRAM demand was seven times bigger than server," Longbow Research analyst Mike Burton pointed out in a recent note. "Today, the demand for DRAM in servers is twice as big as PC."

Beyond cloud-data centers, memory will be needed for autonomous cars and many other technologies that will take advantage of artificial intelligence. Even more standard targets for memory chips, like smartphones and personal computers, are dealing with more intensive workloads from advances like virtual and augmented reality that require faster and better memory.

"The dealer market today is very different from the PC-dominated market of the past," Mehrotra said in Thursday's conference call. "This market now supports a healthy demand environment with several secular demand-drivers."