Investor. Trader. Analyst. We are living amidst the most significant technological revolution in human history. It’s a time to be optimistic about the future.
Joined July 2010
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Just another memory cycle 🥱
$MU took nearly a decade to generate $59B in profit then produced $93B in just three quarters of 2026.
Calling this generational memory pricing power might actually be underselling whats happening.
$MU
Sanjay Mehrotra (Micron earnings call)
More than 75% of our output is already committed for 2027. The majority of discussions with our customers today are already around 2028.
We do not have line of sight to when supply and demand will get in balance. Customers want assurance now, even beyond 2030 timeframe. We concluded some extensions to our SCAs to 2031 timeframe as well as new SCAs extending out to 2031 time frame.
It's so funny listening to people in denial about or downplaying the magnitude of Micron numbers because it's a memory company. People stuck in the past.
Wake up, folks. There has been a structural shift.
Memory is just as cyclical as GPUs are. No one blinks at $AMD having a forward p/e of 38, or $LITE with a forward P/E of 28, yet they shrug when Micron's forward p/e is 7 😂
$MU $SKHY $DRAM
Imagine that.
$MU crushed numbers and memory supply still shows no signs of catching up to demand.
What are the projections now 2031? Just a few months ago it was 2028, then 2027 a few months before that. What happens when that gets pushed back to 2033, then 2035?
Possible.
There is no inference without memory.
Looking forward to the call.