Micron: Old Valuation Metrics No Longer Matter

Summary Micron Technology, Inc. is positioned for a breakout, with strong fourth-quarter earnings expected at the end of the month due to robust memory demand and positive EPS revisions. MU benefits from accelerating AI hardware demand, as evidenced by TSM’s 53% Y/Y revenue growth in August and Micron’s expanding DRAM market share in Q2. Shares trade at only 5.9x forward P/E, presenting a compelling opportunity amid market misperceptions about memory demand cycles. Key MU risk is a potential medium-term oversupply in AI-optimized chips; sustained DRAM market share is crucial for the bullish thesis. Hiroshi Watanabe/DigitalVision via Getty Images Micron Technology, Inc. ( MU ) is set to report very strong fourth fiscal quarter earnings at the end of the month ( September 30 ), and the semiconductor company is seeing significant EPS estimate This article was written by The Asian Investor 33.21K Followers Follow I am interested in a lot of technology and AI stocks like Google, Nvidia, AMD, Tesla and Amazon. 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.