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Home office trend is pushing Micron Technology – Tesla follows LG Chem and CATL

In the Corona crisis, many companies use the options of the home office. As a result, the business of the memory chip manufacturer Micron Technology is also doing very well. Tesla wants to secure Indonesia’s raw materials and is negotiating with the government in Jakarta.

First things first about Micron and Tesla:

  • Micron with a clouded outlook
  • Tesla wants to expand its supply chain

The US chip manufacturer Micron Technology is benefiting from the trend towards home offices in the coronavirus pandemic. Due to the increased use of home work in the Corona crisis, the need for memory chips in data centers has increased significantly. That drove the Group’s sales in the past quarter.

As Micron Technology announced, the fourth quarter of fiscal 2019/2020 was $ 6.06 billion. That was almost a quarter more than in the same period last year. Without special items, you would have earned $ 1.08 per share. Micron thus exceeded the average analyst estimate of 99 cents per share.

For the current first quarter, however, the group was cautious: Micron expects according to the information with a turnover of 5.2 billion dollars plus / minus 200 million dollars. So far, however, analysts assumed it was $ 5.3 billion.

The structural change in the automotive industry towards electromobility also ensures that there is a run on certain raw materials. The focus is more and more on Indonesia. The Southeast Asian country is calling for investments in domestic industry.

The US electric car manufacturer Tesla is currently holding initial talks with the Indonesian government about possible investments. The country is interested in building a supply chain for nickel for the manufacture of batteries, it said. Because of this, it has already stopped exporting unprocessed nickel ore.

The US automaker has reportedly turned to the government to inform them about a possible project. However, details were not disclosed. In September, the Jakarta government agreed to build a lithium battery factory with LG Chem from South Korea and CATL from China.

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Source: HSBC

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