From my perspective,
$Micron Technology(MU)$ earnings don’t just beat expectations — they push back against the “AI bubble” narrative. What stands out is earnings quality: cash flow above net income, margins far ahead of expectations, and forward EPS nearly tripling.
Is this Micron’s “Nvidia moment”? Not a perfect parallel, but the comparison is increasingly valid. Nvidia re-rated when AI demand proved structural, and Micron may be nearing a similar point. Management’s comments about meeting only 50–66% of demand and locking in non-cancelable 2026 orders signal real scarcity and pricing power.
That said, it’s not risk-free or clearly “too late.” Valuations have moved, but earnings expectations may still be conservative if supply remains tight. For me, the key is whether the market stops viewing memory as cyclical and starts valuing it as core AI infrastructure — if so, Micron’s upside could extend beyond a single quarter.
@Tiger_comments @TigerStars
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