Micron: The Market Is In Disbelief. Ignore Them Micron Technology (MU) should stay firmly invested,...

Micron: The Market Is In Disbelief. Ignore Them Micron Technology (MU) should stay firmly invested, as the memory demand cycle continues, despite decelerating earnings beats versus prior quarters. MU's strategic customer agreements, covering 35% of revenue with price floors and ceilings, help mitigate cyclical risk and ASP volatility. Market concerns center on potential DRAM/HBM supply increases and de-spec trends, but current multiples (6x forward earnings) already significantly reflect these risks.