Micron Technology

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Intel > supply constraints

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Intel is starting to reap the benefits of the tens of billions of dollars the company invested in recent years. But unfortunately, new supply constraints will likely limit the growth of the PC industry in 2026. Most notably, supply constraints for memory and storage as reported by Micron and others are causing prices to soar for these components.

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Micron > cyclical company

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the only thing people can come back with is that memory is cyclical and um Micron is a cyclical company and I'm like God if you can't tell me when the cycle ends your argument is pointless you know

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Micron > be a slam dunk stock

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if you can't tell me when the cycle ends your argument is pointless you know so I just don't subscribe to this cyclical argument to me micron It feels like... this should be a slam dunk 900 and some change uh um stock.

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Micron > risk worth taking

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but you know, I feel like it's a risk worth taking that. That was my math calculation there for Micron.

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Micron > supply shortage

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For Micron specifically, this is a problem. If as a company you don't increase supply to meet demand, you open the door for competitors to enter and start capturing market share.

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Micron > meaningful product shipments

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they expect that manufacturing site to support meaningful product shipments from the existing fabrication facility beginning in fiscal year 2028

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Micron > expanding capacity

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Micron's also been investing in expanding its capacity in the United States, supported by the chips grant that was passed under the Biden administration

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Micron > a sustainable boost in competitive position

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I believe Micron is in a situation where structurally the business has improved. This is a sustainable boost in the company's competitive position as a result of the increasing demand for semiconductor technology.

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Micron > the boom and bust cycle

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This company has been through a few cycles. They understand the boom and bust cycle.

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Micron > excellent progress

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Micron talked about that too. They're making excellent progress ramping their next generation uh one gamma technology for DRAM and G9 NAND technology nodes.

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Micron > a majority of their DRAM mix

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they're on track to become a majority of their DRAM mix by midcal 2026.

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Micron > R&D investments

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and expect to meaningfully increase their R&D investments in fiscal year 2027.

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Micron > benefit from political sentiment

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one of the other benefits Micron is seeing right now is being a US semiconductor manufacturing company at a time when the United States administration is very focused on bringing manufacturing back to the United States.

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Micron > DRAM and NAND supply

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Micron told investors that both AI and traditional server demand are constrained by lack of adequate DRAM and NAND supply. These are the two products that Micron sells, memory and storage, and they continue to be in short supply.

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Micron > in the low teens percentage range in calendar 2026

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Micron expects server units to grow in the low teens percentage range in calendar 2026 driven by growth in both AI and traditional servers.

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Micron > of their latest generation technology is off to a good start in 2026

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Micron also informed investors that volume shipments of their latest generation technology is off to a good start in 2026 and it's designed for Nvidia's next generation Vera Rubin technology.

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Micron > significantly in excess of their available supply

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They expect and they are now seeing storage demand significantly in excess of their available supply, not just now, but for the foreseeable future.

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Micron > for their next generation highest technology product

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Micron has also informed investors they are sold out for their next generation or highest technology product in the memory.

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Micron > high storage demand

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In further good news, the management expects this situation to continue. They expect and they are now seeing storage demand significantly in excess of their available supply, not just now, but for the foreseeable future.

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Micron > fiscal 2026 capex or spending

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management raised fiscal 2026 capex or spending uh from 18 billion to $20 billion. And most of that is going towards expanding their HBM capacity and building new fabrication plants or fabs internationally.

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Micron Technology, Inc. > revenues

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Anyway, Micron's core data center business unit makes DRAM and NAND memory for traditional nonI data centers. Core data revenues came in at around $2.4 billion and 37% operating margins, which is basically flat year-over-year.

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Micron's mobile and client business unit > 4.2 billion

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On the other hand, revenues from Micron's mobile and client business unit came in at $4.2 billion which is up 13% quarter over-quarter and 63% year-over-year with operating margins tripling over that same time frame.

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Micron's cloud memory unit > 5.3 billion

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But when it comes to AI, the real star of the show is Micron's cloud memory unit, which brought in $5.3 billion for the quarter. That's an increase of 16% from last quarter.

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Micron > manufacturing towards the highest value segments

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Another benefit is that Micron can prioritize their manufacturing towards the highest value segments like AI, data centers, and mobile chips.

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Micron > government incentives

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And because they make chips in the US, they qualify for government incentives. For example, Microns received over $6 billion in direct federal chips act grants and billions more in state incentives and tax credits.

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Micron > strategic customer agreement

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the first thing is, like I mentioned, Micron signed his first 5-year SCA, strategic customer agreement. And this is kind of eliminating a little bit of that noise is this a cyclicality issue in theory, right?

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Micron > cyclicality

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So the bulls are saying this is removing the cyclicality um thought process of memory, right? Because you have this large customer...

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Micron > consumer demand for DRAM

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Micron and every other player is saying look we can't supply you. We would rather supply HBM because of the long-term contracts that we have and the amount of volume we need to produce.

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Micron > extremely cheap

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Micron I think is getting extremely cheap because of the crazy demand that we're having.

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Micron > quarterly financial results

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Micron reported quarterly financial results that sent the stock price higher by more than 10%. Micron stock prices soaring year to date in 2025.

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Micron > record revenue and significant margin expansion

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Micron's management team said that in their first quarter, they delivered record revenue and significant margin expansion in each of their business units.

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Micron > excellent performance

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Micron reported excellent performance. So looking at the details more specifically, revenue increased to 13.6 billion.

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Micron > the industry demand both from consumer electronics and data centers

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The company's products and services are increasingly in demand because of the rising effectiveness of artificial intelligence. Micron is benefiting from the industry demand both from consumer electronics and from data centers.

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Micron >

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Micron is in the perfect spot at the perfect time. Data center is now over half their business. AI infrastructure is scaling faster than anyone expected.

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Micron >

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The bottom line, Micron is a world-class operator in a brutal business.

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Micron >

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But if you understand the game and time the trade, you can make money. If you’re looking for a long-term hold, this is not it.

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Micron Technology > memory chips

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Micron Technology is one of the world's leading manufacturers of memory chips, mainly DRAM, flash memory, and high bandwidth memory or HBM.

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Micron > data center memory for AI

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them one of just three companies dominating data center memory for AI today. Micron is also the only US company of the three, which means they could face fewer supply chain issues and tariffs from the Trump administration than Samsung or SKH, both of which are based in South Korea.

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Micron > a huge portfolio of products

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Micron has a huge portfolio of products that most Wall Street analysts are completely missing.

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Micron's memory > Nvidia's and AMD's AI accelerators

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Micron's memory can be found in Nvidia's and AMD's state-of-the-art AI accelerators, Google's and Microsoft's data centers, and high-end laptops and desktops, flagship phones, and self-driving cars.

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Micron > record revenues of 11.3 billion for the quarter

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Micron reported record revenues of 11.3 billion for the quarter, which is up by 22%.

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Micron > record revenues of 11.3 billion

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Micron reported record revenues of 11.3 billion for the quarter, which is up by 22% quarter-over-quarter and 46% year-over-year.

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Micron > an increase in earnings per share

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on top of that, their earnings per share came in at $2.83 for the quarter versus just 79 this time last year. That's a whopping 258% increase in earnings per share.

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cloud memory business unit > Micron's revenue driver for the entire AI revolution

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That's why the business unit that every investor needs to pay attention to is their cloud memory business unit since that's Micron's revenue driver for the entire AI revolution.

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Samsung > Micron

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South Korea. Samsung paid Micron to license their 64K chip design and used it to launch their own memory business, running Japan's own playbook against them with major subsidies.

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Micron's revenue guidance for next quarter > 18.7 billion

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But here's the number that's truly wild. Micron's revenue guidance for next quarter is 18.7 billion. That would be a 37% sequential growth in a single quarter.

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Micron > 13.6 billion in revenue

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In Micron's most recent quarter, they posted 13.6 billion in revenue. That's up 57% from last year.

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Micron's net income > 5.2 billion

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Gross margins hit a whopping 56.8% while net income hit 5.2 billion in a single quarter. That's up 180% year-over-year.

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Micron Technology, Inc. > AIdriven demand

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AIdriven demand has made Micron's business into nothing short of a money printer right now. So, let's take a look at these crazy financials.

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Micron Technology, Inc. > 13.6 billion in revenue

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In Micron's most recent quarter, they posted 13.6 billion in revenue. That's up 57% from last year.

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Micron Technology, Inc. > net income of 5.2 billion

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net income hit 5.2 billion in a single quarter. That's up 180% year-over-year.

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Micron Technology, Inc. > quarterly free cash flow of 3.9 billion

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Free cash flow set a new quarterly record at 3.9 billion

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Micron Technology, Inc. > operating income growth of 182%

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operating income grew 182% significantly faster than revenue.

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Micron Technology, Inc. > spending 20 billion on capex

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To capture even more of this demand, Micron is spending 20 billion on capex in 2026, mostly for onore plants aided by US subsidies under the chips act.

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demand > Micron's demand

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we've heard from Micron during the earnings that they're still only fulfilling 50 to two-thirds of a company's demand. So, there's still so much pent up demand.

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Micron > quarterly revenue

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Micron reported $23.9 billion in quarterly revenue, which was up 196% year-over-year.

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Micron > memory to consumers

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Micron recently announced that they were going to stop selling memory to consumers because they are seeing so much demand for AI chips.

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Micron > 93%

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Analysts on average think that Micron will grow their revenue 93% in the fiscal year of 2026.

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Micron's forward price to earnings ratio > 9.2

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Their forward price to earnings ratio... puts them at a PE ratio of 9.2, which is actually the 24th lowest in the S&P 500.

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Micron > HPM4

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Micron is really betting on their next generation of high bandwidth memory called HPM4.