Added to YB: 2026-03-18
Pitch date: 2026-03-16
MU [neutral]
Micron Technology, Inc.
+2.02%
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
$519.6B
Pitch Price
$452.54
Price Target
600.00 (+30%)
Dividend
0.10%
EV/EBITDA
23.21
P/E
43.80
EV/Sales
12.29
Sector
Semiconductors and Semiconductor Equipment
Category
growth
$MU: The Only American in the Room
MU (overview): Only US advanced HBM supplier, 100% of 2026 HBM output sold under binding contracts at locked prices—unprecedented in memory industry. Q1 rev $19B (+138% YoY), 68% gross margin (record). HBM TAM $35B→$100B by 2028. Trades 12x FY26 EPS vs 22x S&P, 28x Nasdaq. Key risks: HBM4 Nvidia qualification uncertainty, Samsung HBM recovery threatening 2027 pricing, $20B capex intensity, China ban (12% rev). Bull case: structural upgrade from commodity to strategic AI infra, US manufacturer premium, sold-out = no spot risk. Bear: 6.5x run in 12mo, peak cycle valuation, NAND weakness. Wells Fargo through-cycle EPS $30-40 implies $450-600 fair value at 15x. Q2 beat priced in; watch Q3 guide, HBM4 commentary, 2027 contract visibility for re-rating catalyst. Insiders selling but CEO holds $450M stake.
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