AJ's MU Analysis
@alojoh ↗Current Outlook
Latest Deep Dive
Micron Deep Dive: AI Memory Play
AJ's stance: BUY — Micron is his largest long-term AI infrastructure opportunity. Company has entered a 'protracted golden era' with 100% CM segment growth and unprecedented margins. Fully sold out HBM through 2026 (Nvidia supplier). Historical low multiples don't apply anymore — this is a structural shift. Key risk: cyclicality, but AI demand provides floor.
- ACTION: Buy — largest long-term opportunity in AI infrastructure
- Position: 'Protracted golden era' — structural shift in business
- Revenue: 100% growth in Compute & Networking segment
- Visibility: Nvidia HBM supplier, sold out through 2026
- Valuation: Historical low multiples don't apply (AI changes everything)
- Margins: Unprecedented expansion, record EPS potential
- Risk: Cyclicality, but AI demand provides downside floor
AJ's Ongoing Thesis
- Top-3 global DRAM leader
- Critical NVIDIA HBM supplier
- Fully sold out through 2026
- Only NVIDIA outpaced MU's revenue growth among AI enablers
Previous Deep Dives
All MU Posts
Complete post history from AJ
AJ“HBM4 timeline pulled forward. Micron will be shipping to NVIDIA before Samsung. Adding to position here.”
AJ“Memory pricing stabilizing. The worst is behind us and AI demand is just getting started. MU is my favorite semi value play.”
AJ“Micron Deep Dive: Hour-long analyst discussion with detailed valuation models. Top-3 DRAM leader, critical NVIDIA HBM supplier, sold out through 2026.”
AJ“Among AI enablers, only Nvidia outpaced Micron's revenue growth. Compelling AI memory play.”
Want real-time updates from AJ on MU?
Follow @alojoh on X ↗