A Micron Super Cycle? – Micron Technology Inc.

  • Micron once again beat estimates and raised expectations. At least for now, however, it wasn’t enough to start a new leg up.
  • There are those that argue Micron is facing a super cycle in memory or, at the minimum, the cyclical nature is becoming more muted.
  • We see some rationale in that view, but argue that investors need more proof in order to latch onto that idea.
  • In the meantime, bulls and bears, the latter expecting bad news out of the memory markets anytime soon, are locked.
  • Equilibrium between those that have large profits and selling and/or those that see the end of the cycle, versus those that see it as a super cycle and notice the low valuations.

Source: A Micron Super Cycle? – Micron Technology Inc. (NASDAQ:MU) | Seeking Alpha