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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (77940)	8/20/2025 12:54:36 PM
From: Elroy	Read Replies (1) of 78519

MU is a confused stock with a confused investor base. Normally in semiconductor memory (MU's area) the main investment issue is properly "calling the cycle" of boom and bust in memory supply. However, DRAM has gotten down to three global suppliers (the other two biggies are Samsung and SK Hynix) and it doesn't seem to go into oversupply as much as it used to. More importantly AI data centers now need something called High Bandwidth Memory and MU and SK are leading that segment with Samsung (for some reason) failing to catch up, and MU and SK each year sell as much as they can make, so ..... there's no cycle for HBM (Yet) only pure beautiful growth. Meanwhile, NAND memory has six global makers and remains in the historic cyclical boom bust of semiconductor memory. Given that, the stock often doesn't know what to do. Is it cyclical (NAND)? Is it pure growth (HBM)? Is it profitable commodity with mild cyclicality (DRAM)? I don't know the answer, but I own Micron and it's definitely interesting to watch them continually post record results and then the share price goes down, then back up, then down a lot, then back up a lot, and where it will go next is unknown.....

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