Added to YB: 2026-06-29
Pitch date: 2026-06-25
MU [neutral]
Micron Technology, Inc.
-23.75%
current return
Author Info
No bio for this author
Company Info
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Japan, Mainland China, Hong Kong, Europe, and internationally.
Market Cap
$1.0T
Pitch Price
$1.1K
Price Target
N/A
Dividend
0.07%
EV/EBITDA
14.40
P/E
20.16
EV/Sales
10.91
Sector
Semiconductors and Semiconductor Equipment
Category
turnaround
Micron 3QFY26 Earnings: The Cycle Gets a Contract
MU (earnings): 3QFY26 rev $41.5B, 84.9% GM, $18.3B FCF. DRAM ASPs +60% QoQ, NAND +85% on flat volumes—price-driven. 16 customers signed 5yr take-or-pay contracts, $22B deposits, ~$100B min revenue, margins above past peaks. Bull: less-swappable HBM/datacenter franchise. Bear: CXMT ($7.3B rev, +700% YoY, 70% margins) + greenfield fabs by 2028 pressure commodity DRAM. Debate: 4-6x cyclical vs 8-11x franchise multiple.
Read full article (7 min)