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Micron Technology, Inc. (MU)
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'”M' Is For Micron
There is no better positioned semiconductor company in the world than Micron to capitalize on the metaverse. The fact memory has become triple as important over the last 20 years is a testament to how important it'll be ten years from now and proves Micron is in the largest growing semiconductor sector. Additionally, the demand side is diverse and moving further toward higher-value, higher-margin products needed to power an entirely digital world.
But the positioning of the stock to be the best is not just in the story; it's in the valuation. It would appear relatively easy to argue Nvidia or Taiwan Semiconductor (TSM) is the best positioned in the metaverse space - and they both will play critical roles - but Nvidia is already pricing it in while TSM is constrained to sell more products in a sector where pricing moves slower. But for Micron, its valuation is still tied to cyclical patterns and thus does not get the valuation of a leading provider of the metaverse. With the company likely to do double-digit EPS in FY22, a lowly 15 P/E (for the rest of the market) would insinuate a $150 price target.”
MU a Top AI Pick (MF 11/23): "The increasing adoption of AI applications would create the need for more storage and faster memory processing. For instance, the data generated by an autonomous vehicle that uses several sensors and cameras will have to be processed quickly, which is where faster DRAM (dynamic random access memory) will come into play.
Similarly, HPC data centers will create the need for more flash memory as AI applications will need faster access to stored data, which can be delivered by SSDs (solid-state drives) that can transmit data quickly, as compared to traditional drives.
Not surprisingly, Micron CEO Sanjay Mehrotra estimates that the need for DRAM in AI servers would be six times as much, compared to standard servers. Similarly, AI servers would need twice the amount of SSD storage, as compared to standard servers.
The good part is that Micron is already taking steps to tap into this massive opportunity with its GDDR6X memory. The company claims that GDDR6X DRAM is suited for AI inference applications, thanks to its system bandwidth of more than 1 terabyte per second (TB/s), as compared to the system bandwidth of 0.7 TB/s of prior generations. Meanwhile, the company's HBM2E high-bandwidth memory can exceed system bandwidth of 2 TB/s, making it ideal for AI training and inference in the cloud.
Micron controls over 23% of the global DRAM market and 11% of the NAND flash market, so it stands to gain from the secular growth of the memory market that counts AI as one of its catalysts. The good thing is that investors can get into Micron stock at a dirt-cheap valuation right now as it's trading for at just 16 times trailing earnings and nine times forward earnings.
This makes it substantially cheaper than the S&P 500 index, which has an earnings multiple of 28.9. Buying Micron looks like a steal as it's expected to clock annual earnings growth of over 22% for the next five years."
Added more shares today. Down market based on emotions. MU had good news today.
The best part of this decision is not only the "one time payment" but that MU and UMC have agreed to work together to expand opportunities in new markets. UMC is NOT a small player. This is a BIG positive for MU.
MU just got upgrades by WF $115
want to make 4.5% in one day on your money, buy now and hold.
Micron is the only undervalued semi out there, money flocking here because the other ones, including Navidia are over valued.
Six month target (by my calculations) $119-$137.
Market holding up and advancing the uptrend to March - April…. Market target 19k if the market melts up then MU’s PPS will also follow (maybe lead)….. overshoot to $150 plus.
DRAM pricing rises due to renewed demand on other supply chain constraints getting worked out.
Supply stripped by demand.
MU PE 15-25 with $10 plus earnings is a incredible sell spot. Do the math, ride the tide.
From CNBC: "Two bullish notes kicked off the rally on Friday. Both Evercore and Citi highlighted the stock as having upside potential thanks to an expected renewal in demand for memory chips."
Michael Binger, president at Gradient Investments, says this could be Micron’s time to shine.
“It’s a cyclical stock, supply and demand affected, and I think these two analyst reports [Friday] kind of woke people up that it looks like pricing is going to come back to the DRAM and the NAND market in the first quarter of 2022. If that’s the case, you need to be buying the stocks, especially Micron, a quarter before that happens which is right now,” Binger told CNBC’s “Trading Nation” on Friday.
“It’s dirt cheap at seven times [forward earnings]. If we can get it to 10 times, that’s a good movement for Micron, and I would be a buyer today,” he said.
Danielle Shay, director of options at Simpler Trading, agrees that the move in Micron is just beginning.
“The underperformance has given us a really nice consolidation on Micron … and I’m looking at that consolidation breaking out. It’s up above the [200-day moving average] on high volume. I’m targeting $100 and then $120,” she said during the same interview.
Shares closed Friday at $83.03. A move to $100 and $120 implies 20% and 45% upside, respectively.
“We additionally have a run into earnings in Micron which is typically pretty strong. So I think looking at long calls in the earnings series would make sense for a rise in IV [implied volatility] and then also potentially a bullish butterfly out into January targeting that new high,” Shay said.
Per today's Joe Albano Seek Alfa: "The 'M' In Metaverse Stands For Micron"
"Metaverse is the latest tech buzzword, and everyone and anyone is attaching to it. But the one missing from the investor conversation is Micron, the company in the semiconductor sector growing faster than most of the industry. You've heard the "secular growth" story before, but don't be confused by the bump in PC DRAM pricing as a cycle indicator."
"When the market figures out 'M' is for Micron, the stock will catch up and launch into triple digits."
This is more important than how much the payment made to MU is :MU and UMC have agreed to work together to expand opportunities in new markets. UMC is NOT a small player. This is a BIG positive for MU.
GREAT NEWS today with UMC.
Tomorrow shorts will burn.
Oh well, forces in the universe at work to keep this stock down, albeit temporarily; although I fear anytime previous brokerages have offered projections of stellar price appreciation in unison, it has not come to fruition; I m sure This Time It's Different (?)
Just need some confirmation bias from the bulls to get back in on this dip lol. Exited most of my position for a great return, but will probably get back in on Monday and ride it hopefully up to the all time highs. What is your time horizon for holding?
I hope everyone had a nice Thanksgiving! Now, I’m looking to MU for additional thanksgiving. I use to think MU stood for Masochist Unite, but maybe it might stand for Meta Universe. IMO if you picked up shares in the 60-70s recently you have hit a bulls eye! You can’t blame anybody for profit taking today, if that is indeed what it is. The overall market is pretty funky today! I’m wondering if the charts will form a bullish cup and handle on MU before earnings?
Remember 7% increased the other day, why? The catalysts haven't changed.
The 'M' In Metaverse Stands For Micron
Nov. 24, 2021 8:00 AM ETMicron
Long Only, Growth, Tech, Software
Contributor Since 2013- Joe Albano.
The metaverse is the latest tech buzzword, and everyone and anyone is attaching to it.
But the one missing from the investor conversation is Micron, the company in the semiconductor sector growing faster than most of the industry.
You've heard the "secular growth" story before, but don't be confused by the bump in PC DRAM pricing as a cycle indicator.
When the market figures out 'M' is for Micron, the stock will catch up and launch into triple digits.
Micron says 'first semiconductor company to sample and validate' LPDDR5X DRAM
Micron Technology, at the MediaTek Executive Summit, announced that MediaTek has validated Micron's low-power double data rate 5X, or LPDDR5X, DRAM for MediaTek's new Dimensity 9000 5G flagship chipset for smartphones. "Micron is the first semiconductor company to sample and validate this fastest, most advanced mobile memory in the industry and has shipped the first batch of samples of LPDDR5X built on its first-to-market 1-alpha node. Designed for high-end and flagship smartphones, Micron's LPDDR5X allows the smartphone ecosystem to unlock the next wave of data-intensive applications powered by artificial intelligence and 5G innovation... Peak LPDDR5X speeds of 8.533 Gb/s deliver up to 33% faster performance than previous-generation LPDDR5," Micron stated in a press release. MediaTek's Dimensity 9000 mobile SoC will be the first to support LPDDR5X memory, the company noted.
Bill, this is the story you are talking about. RSI is rising.
The UMC settlement will hopefully be enough to prevent the market to pull us down too far.
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