Micron: 3 Simple Reasons Why I'm Still Bullish

Bernard Zambonin 1.88K Followers Follow Summary Micron Technology, Inc.'s customers are basically rationing DRAM, with some data center buyers getting only about half the memory they want while demand keeps rising. The shortage may get worse before it gets better, with Micron now expecting 2027 to be tighter than 2026. HBM is making the supply problem even harder because each bit consumes disproportionately more wafer capacity and squeezes conventional DRAM supply. At roughly 6x expected FY28 earnings, MU stock still looks priced for a much harsher earnings reset than I expect. SCAs could make the next downturn much less ugly by locking in volumes, price floors, and multiyear commitments. vzphotos/iStock Editorial via Getty Images In my last two takes on Micron Technology, Inc. ( MU ), in March and May, my thesis evolved from "Maybe this isn't a normal memory cycle” to "If earnings are structurally higher, $1 This article was written by Bernard Zambonin 1.88K Followers Follow Equity Research Analyst at DM Martins Research.I cover stocks that are often undercovered, focusing primarily on Brazil and Latin America — but I also occasionally write about global large caps. My work can also be found on TipRanks, where I contribute regularly, and on TheStreet, where I was a frequent contributor in the past.- Disclaimer: All views expressed here are my own and do not necessarily reflect the views or official positions of DM Martins Research. My articles and analyses are for educational and informational purposes only and should not be taken as investment advice. Always do your own due diligence before making any investment decisions. Analyst’s Disclosure: I/we have a beneficial long position in the shares of MU either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.