Micron (NASDAQ:MU) delivered strong numbers in the first half of 2020, but going forward they probably face weaker demand.
We had previously highlighted how in the first half of 2020 some OEMs were stocking up on inventory, to assure production in the back half of the year. This pulled forward demand, resulting in strong numbers for Micron. However, we also mentioned this could lead to oversupply and inventory accumulation in the second half of the year, which is playing out.
Several reports coming out recently confirmed the oversupply, highlighting large inventories, weak demand,