Micron At $1,750 Is Now My Base Case

Impact · against what's priced in

Micron's results represent a massive fundamental shift, characterized by record revenue growth and a structural change in revenue stability via take-or-pay contracts. The shift toward 84.9% gross margins and secured long-term revenue reduces the historical cyclicality risk typically associated with the memory sector.

MU+0.90

No priced-in read yet

In context

The jump to $41.5B in Q3 revenue and the implementation of take-or-pay contracts for 50% of revenue structurally change the company's risk profile and growth trajectory.

Read from the article alone

• earnings▲5%
• capex
• MU
• semiconductors
• guidance
• revenue growth
• ai
• data center

Top 1 mover · tap to explore