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Chipmaker Micron Technology has a fourteen billion dollar market cap which a lot of analysts say is wait undervalued some see it.
Above the current levels still traders are concerned about the company's exposure to the PC market which does -- be fading fast.
Earlier I spoke to micron CEO mark -- -- in -- first on Fox Business interview I began by asking.
Whether personal computers we're going to disappear.
Personal computers are definitely still going to be around they're changing their morphing -- will have.
Much more all -- lights we'll see fusion of things between tablets and and and PCs to PCs around the state people still need to compute.
And really for micron as you point out it's it's it's not that important we.
We supply products and and all types of platforms client platforms enterprise platforms automotive just as an example Samsung's they have their new galaxy note three that that has your.
Yeah and it but.
Have you had to change your your overall corporate strategy based on you on the decline in the PC industry our strategy for a long time has been the to search out all those applications where we can really add value so.
We've been heading down this path for quite awhile of of moving our products and things other than PCs.
Whether it's enterprise or automotive medical industrial we want to be there where we can.
Take a system level approach to 2000 customers and letting them in -- -- Now you're here in New York your bases in Idaho but you're here in New York to talk to investors what is or something.
That frustrates chipmakers right now about his.
You look at the fortunes of Intel Intel and -- great company and well run etc.
but it's did this stock value is is stock.
At around 22 bucks a share.
Same with your -- a lot of people say it's undervalued and thirteen to fourteen range -- could go up to twenty dollars pretty easily.
What what should investors know about -- Makers right now.
Willing -- to know that at least from memory the industry's changing dramatically.
The very real diverse education and -- our product goes.
And that and the change in the rate of adoption.
-- new process technologies is really creating a great opportunity what does that mean breakthrough products it means it means more system level products and more products that are customized for the in application.
Which means -- the end of the day we'll start to see.
While less commodity station of the things that micron builds and that I think is is is good for customers because they can add more value and innovate better.
Again how'd you hook the investors the investor who obviously stock values is somewhat important to you guys I mean it it seems to be -- under guys I'm sure you would say it is everybody would do any CEO but how do you hope the investors in in believing in -- future.
Well you know the the investors are coming around I think they need to see.
Great execution on our part which is which is happening -- -- you see that over a sustained period and they need to see.
-- this actually plays out the way many of them now believe it will play out which is.
A much more.
Value added industry as opposed to a deeply cyclical one -- well here's a tough sell for investors why is it that you guys just bought a bankrupt Japanese chipmaker.
Well it gives us the opportunity to really bring together two great product portfolios and create the world's best memory company.
It gives us a much more depth of technological.
Horsepower to innovate for the future.
And we get -- -- at fantastic.
For our shareholders that we -- -- always saying that the way he's gotten rich is by looking for well run companies that are beaten down.
And is that what you did you found a well run company that was bankrupt but that had real potential for growth.
-- this is a this is that in a very good company with great take target and Dell product dim memory by -- to -- Yes that that I was bankrupt.
-- for a number of different reasons.
But I had good underlying capability technology products.
And -- assets that we were able to bring in a micron group at.
At a fraction of the replacement cost that we -- -- when they're -- fact though were people saying here locally by bankrupt company for hey hey listen.
Today everyone looks of this dealing goes full of course.
But if you go back a year -- some some vision yes and and fortunately we haven't.
Let me pull back as there's another aspect of micron a lot of people don't know about.
The former CEO Steve Appleton was killed very suddenly -- -- plane crash back in 2012 he's only 51 years old.
You took over after him lot of people were worried about the transition I guess -- been CEO for about eighteen years.
It the transition was very smooth -- lot of companies out there that may not have succession plans in place clearly you did how did you work on that.
Well listen Steve was -- great leader for.
Company and a good friend and it was tough fun on the whole company.
When that happened.
But we had a plan and even with a young CO -- 51 year old CEO in the prime of his life he had a plan that that's right we we knew.
What we needed to do and though we knew the no we weren't gonna miss a beat that we were gonna take -- the opportunity to present themselves and and the team really came together and and kept on going and and it's it's worked out very well -- Certainly has Mark Martin Durkin is Micron Technology CEO he's terrific -- -- back any time.
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