MarketWatch First Take: Micron bets that memory demand is here to stay

Micron Technology Inc. executives have been adamant that the sudden spike in demand for its memory chips is not a short-term phenomenon. Now, they’re putting money where their mouths are.

After yet another earnings beat Thursday, Micron MU, -3.52% announced that it would build out manufacturing capacity at facilities in Singapore and Japan for its two core products: DRAM memory chips and flash memory chips known as NAND. The company said its capital expenditures would be at the upper end of its projected range as a result, which was $7.5 billion plus or minus 5%.

The effort costs not just money but time: Micron expects the extra clean-room space will be online next year, near the end of 2019 in the case of its NAND facility in Singapore.

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