Deep Research2
🔒 Members only- 2026.07.01📄 Investment memo
Micron at the Peak: AI Memory Supercycle or Trap?
Institutional-grade deep dive memo: Micron's 84% gross margin, annualized profit of ~$70B, yet low P/E — cheap or cyclical peak? Full teardown. Member-only.
Read memo→ - 2026.07.01📊 Model · .xlsx download
Micron (MU): Financial Model for a Memory Super-Cycle
Micron Technology (MU) downloadable financial model: core assumptions, financial projections, DCF/scenario-based price targets — a quantitative modeling spreadsheet. Members can download for their own modeling.
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Coverage Timeline4
Following since 2026.03- 20262026.07.016 min
Micron's 84% Gross Margin and 7x Stock: Cheap or Cycle Peak?
Micron just reported a quarter whose numbers are almost too wild to be real: quarterly revenue $41.4B, up 346% YoY; consolidated gross margin 84.6%; EPS $24.67 – all records. The stock has 7x’d in a year, market cap above $1 trillion. As the only pure-play memory leader listed in the U.S., it has become the clearest proxy for the AI storage trade.
- 2026.06.255 min
Micron's Record Quarter: Net Profit Up 14x, 16 Long-Term Contracts Lock In Structural Shift
FQ3-26 revenue of $41.46B and non-GAAP EPS of $25.11 blew past guidance and consensus. Sixteen take-or-pay contracts turned 'storage as a structural asset' from narrative into booked cash flow. After-hours stock rose 13%, nearing all-time highs, while the rest of the AI complex quietly pulled back.
- 2026.05.274 分钟🔒 Members
美光海力士迈入一万亿美元大关，存储估值范式转移
继隔夜美光涨 20% 后,SK 海力士盘中涨 14%、站上 1 万亿美元关口,成为第三家市值破万亿的存储公司。UBS 把美光从不到 10 倍 P/E 修正到 16 倍、目标价 $1625(三倍前值)。但同一套「周期股转结构性资产」叙事,UBS 给美光用 2029 远期框架、亚洲卖方给海力士用 2026 保守框架——这种非对称才是今天真正该被分析的事。
- 2026.03.192 min
Micron's 81% Gross Margin: The HBM Winner in the AI Memory Arms Race
If Nvidia is the engine of the AI era, Micron just proved to the world that without memory, that engine can't run for a second.
Understand the industry behind this company — visual, step-by-step explainers.
