SSNLF - Micron: Benefiting From Strong AI-Based HBM Packaging Growth
2024-06-27 12:46:43 ET
Summary
- Micron announced fiscal Q3 earnings on June 26, but guidance was in-line with consensus, questioning the rationale for explosive share growth in the past three months.
- My analysis shows HBM market to grow from 4% to 15% of global advanced semiconductor packaging market by 2028, with Micron gaining share.
- I expect Micron's HBM capacity to increase from 5.6% in Q1 2024 to 14.0% in Q4 2025, positioning the company as the fastest growing in the DRAM oligopoly.
Earnings Call Analysis
Micron ( MU ) announced its fiscal Q3 earnings on Wednesday June 26. The shares dropped 6.5% in extended-hours trading on Wednesday after the memory chipmaker issued guidance that was in-line with estimates, and are down 6% in the late-morning of June 27....
Micron: Benefiting From Strong AI-Based HBM Packaging Growth