Micron Technology IncMU
▲ PositiveCapitalrelevance
Citi reiterated Buy and lifted Micron's price target to $1,300 from $1,150 on stronger memory pricing and raised estimates
Impact on assets 2
Semiconductors▲ · 1 stocks
Micron Technology IncDigital Finance & Tokenization▲ · 1 stocks
Citigroup Inc.C
Mentioned
Theme Impact 2
Off-coverage companies
Related news
▲2
Synopsys and TSMC Expand AI Chip Design Partnership Across A14, Agentic AI and Advanced Packaging
Synopsys announced new collaborations with TSMC spanning A14 design enablement, AI-assisted engineering workflows, CoWoS support for multi-die designs, and unified multiphysics signoff. The companies said Synopsys has achieved A14 certification across digital and analog flows and enabled agentic AI capabilities, giving customers a methodology spanning implementation through signoff to accelerate design convergence on TSMC A14 technology. In analog design, Synopsys is collaborating with TSMC on device routing enablement on A14, a key milestone for advanced analog place-and-route automation. Synopsys said its 3DIC Compiler platform now enables designers to co-design and simulate integrated voltage regulators on TSMC CoWoS technology in a unified environment, and that it continues to work with TSMC on co-packaged optics design on TSMC COUPE technology. On TSMC's N2P process, Synopsys achieved key IP enablement and tape-out milestones for AI and HPC designs including PCIe 7.0, HBM4, LPDDR6/5X/5, 224G Ethernet PHY, UCIe, OTP, and advanced SLM process, voltage, and temperature monitoring IP, and recently completed 64G UCIe IP tape-outs on both 2nm and 3nm process nodes.
▲2
Micron Trades at 7x Forward Earnings Ahead of September 30 Report
Micron Technology heads into its September 30 earnings report with 16 Strategic Customer Agreements representing roughly $100 billion in cumulative minimum-price contracted AI revenue. The company has already shipped more than $1 billion in HBM4 revenue, and management said the HBM4 12-high volume ramp is tracking twice as fast as HBM3E 12-high, while Cloud Memory alone generated $13.77 billion last quarter. Guidance for the fiscal fourth quarter calls for revenue of $50.0 billion plus or minus $1.0 billion, non-GAAP gross margin of about 86%, and non-GAAP EPS of $31.00 plus or minus $1.00. The stock is up 276.99% year to date at $1,075.31, with a market cap near $1.21 trillion, a forward P/E of 7 against a trailing P/E of 24, and a PEG ratio of 0.15, based on fiscal 2027 consensus EPS of $156.53. Analysts show 44 Buy ratings, 4 Holds, and zero Sells, with a target price of $1,515, while capex reached $7.83 billion last quarter and the balance sheet holds $24.995 billion in cash.
4
Michael Burry Adds to Micron Short, Warns on Memory Shortage
Michael Burry is doubling down against some of the market's hottest AI and semiconductor trades, adding size to short positions in Micron Technology, Nebius Group, Palantir Technologies and the iShares Semiconductor ETF. In a September 22 Substack post, the famed investor said his concern is increasingly focused on whether today's semiconductor shortages, AI enthusiasm and elevated valuations can persist, with Micron at the center of that argument. Burry highlighted comments from Acer CEO Jason Chen questioning expectations for a prolonged memory shortage; Chen acknowledged shortages in some products, including LPDDR5 and DDR5 9600, but said DDR4 currently has more sellers than buyers, remarks Burry said align with his own view. Burry also described the Nasdaq 100 as historically overvalued and historically top-heavy as the index approached another record, while increasing bearish exposure to Palantir, Nebius and semiconductors broadly. He is not simply retreating from equities, however, having added to positions in QXO, Build-A-Bear Workshop, Sprouts Farmers Market, Birkenstock and MercadoLibre after what he described as tremendous corrections, and now considers all five full positions with rather attractive prices.