$Micron Tech(MU.US) Anthropic's explosive growth further confirms the structural shortage story in AI memory. Near-term (2026–2027), this gives strong support to HBM pricing and memory makers' margins. Micron's CBO Sumit Sadana also said publicly that even by 2028, supply still cannot meet customer demand.
Morgan Stanley and JPM have already started re-rating Micron on PE instead of PB — still cautious lah, they will look at LTA terms like customer default clauses to judge contract quality.
This is quite similar to the re-rating TSMC went through previously. All this supports our earlier call on the memory sector re-rate — high chance that by Q4 this year or Q1 next year, we'll see a re-rating to 15x PE or higher.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
