Micron: Don't Get Shaken Out (Archive, Full Access)
Micron’s DRAM-focused portfolio and HBM leadership position it to benefit from prolonged memory market tightness.
This 5-Minute Pitch was originally published on Seeking Alpha. It is shared here to showcase my work and track record. I also publish full 5-Minute Pitches on this site. This will be behind a paywall, accessible to Hunter Tier members.
Elevator Pitch
- The DRAM memory market is expected to remain tighter for longer vs. the NAND market. This benefits Micron's 76% DRAM-focused portfolio.
- Faster-than-expected HBM market growth, tight market conditions, and Micron's high share in this segment are major growth catalysts.
- DRAM market tightness is expected through 2027 and beyond, with HBM TAM projected to surpass $100B in 2027, accelerating revenue growth.
- Valuations are stable with Micron trading near its longer-term median EV/EBITDA multiple despite recent price volatility.
- Technical analysis shows a healthy long-term uptrend with strong momentum patterns on multi-month charts.
Read the full article here.
