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# Micron Q1: Riddled With A Challenging Outlook (Archive)
- URL: https://www.huntingalphas.com/micron-q1-riddled-with-a-challenging-outlook-archive/
- Published: 2024-12-19T18:30:00.000Z
- Updated: 2026-02-28T05:49:08.000Z
- Description: Micron faces a cyclical NAND peak, weak guidance, and growing underperformance risks.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, MU, Tech

*This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.*

## Elevator Pitch

- In my fiscal Q1 FY25 preview note on Micron Technology, Inc., I had expressed a cautious stance, which correctly anticipated a weak NAND market ahead (NAND makes up 26% of Micron's revenues).
- The NAND demand cycle seems to be at a local peak as it faces volume and pricing headwinds due to slower growth and inventory corrections at the customers' level.
- NAND weakness has impacted fiscal Q2 FY25 revenue and gross margin guidance and caused it to miss expectations, and the outlook is expected to remain weak for at least a couple more quarters.
- I expect a valuation multiple de-rating to follow almost unanimous downgrades in EPS, revenue and gross margins over the next 4 quarters. Technicals vs. the S&P 500 are also bearish.
- HBM demand is expected to grow handsomely at a 36% CAGR until 2030\. As a market leader, Micron is a key beneficiary of this industry trend. This is a key upside risk monitorable for my bearish view.

Read the full article [here](https://seekingalpha.com/article/4745387-micron-q1-riddled-with-a-challenging-outlook-rating-downgrade?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*