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$Micron Technology(MU)$

Micron: The Street Was Wrong, Full Steam Ahead

Micron Technology, Inc. reported its fiscal Q4 earnings after the market closed on Wednesday.

Consumer demand remains weak in NAND and DRAM markets, but enterprise and HBM show growth.

While improvements in bit shipments are not uniform, the current upcycle remains intact. HBM will offset weakness until consumer demand recovers.

The HBM market is expected to grow significantly, with Micron's HBM products projected to generate multiple billions in revenue by FY25.

Micron plans $8.1 billion in CAPEX for FY25, focusing on greenfield fab construction and HBM investments to meet rising demand.

Anticipate 50% revenue growth in FY25 and 30% in FY26, driven by AI and high-performance computing, despite high depreciation costs.

Micron's valuation is attractive after the recent dip, with a 64% upside potential based on DCF analysis.

Historical seasonality patterns indicate that the most challenging period of the year for Micron's stock is likely behind us.

AI Faith Come Back! Chase High or Take Profit Now?

Micron forecasts upbeat first-quarter revenue on strong demand for memory chips. On the news, the stock jumps 15% and leads semiconductor stocks up.

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Consumer demand remains weak in NAND and DRAM markets, but enterprise and HBM show growth. While improvements in bit shipments are not uniform, the current upcycle remains intact. HBM will offset weakness until consumer demand recovers. The HBM market is expected to grow significantly, with Micron's HBM products projected to generate multiple billions in revenue by FY25. Micron plans $8.1 billion in CAPEX for FY25, focusing on greenfield fab construction and HBM investments to meet rising demand. Anticipate 50% revenue growth in FY25 and 30% in FY26, driven by AI and high-performance computing, despite high depreciation costs. Micron's valuation is attractive after the recent dip, with a 64% upside potential based on DCF analysis. 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