Micron Is In A 'Supercycle' - Q1 Results Might Not Be Enough
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Uttam Dey4.93K FollowersFollow5ShareSavePlay(13min)Comment(1)SummaryMicron Technology is benefiting from a memory supercycle, driven by HBM market share gains and surging memory prices.MU's data center segment now comprises 56% of revenue with 52% gross margins, aided by strategic exit from the Crucial consumer business.Despite strong fundamentals and AI tailwinds, MU is downgraded to Hold as shares trade at an elevated 5.1x FY26 revenue, ahead of consensus.Key Q1 ER catalysts include HBM supply 'sold out' status, capex guidance increase, and gross margin trajectory amid heightened investor expectations.BlackJack3D/E+ via Getty Images Investment Thesis As Micron Technology (MU) gets ready to report its Q1 FY26 ER next week, a $283 billion question is bubbling up to the surface-is HBM a cyclical commodity? The answer will be the difference inThis article was written byUttam Dey4.93K FollowersFollowUttam is a growth-oriented investment analyst whose equity research primarily focuses on the technology sector. Semiconductors, Artificial Intelligence and Cloud software are some of the key sectors that are regularly researched and published by him. His research also focuses on other areas such as MedTech, Defense Tech, and Renewable Energy. In addition, Uttam also authors The Pragmatic Optimist Newsletter along with his wife, Amrita Roy, who is also an author on the newsletter as well as on this platform. Their newsletter gets regularly cited by leading publications such as the Wall Street Journal, Forbes, etc. Prior to publishing his research, Uttam worked in Silicon Valley, leading teams for some of the largest technology firms in the world, including Apple and Google.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.Recommended For You