2024-07-02 18:27:08 ET
Summary
- Micron Technology reported FY2024 results and outlook, disappointing investors' high AI expectations after the June rally. We say load up on the pullback.
- Our positive outlook is based on our expectations of higher DRAM sales due to AI-driven demand for HBM and the arrival of AI PC in 2025.
- We expect hyper-demand from AI for HBM to put DRAM into shortage for the next 1-2 years, at least.
- We think MU will outperform the peer group substantially in the first half of 2025.
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For further details see:
Micron: Market Overreacted, Time To Load Up - Maintaining Buy