Earnings report goes all out, but the stock price barely moves—Micron’s report plays out a dark comedy.
In Q4, revenue hit $54.2 billion, up nearly 4x year-over-year. Gross margin surged to 87%, and next-quarter guidance went straight to $61.5 billion—beating expectations across the board.
After the close, the stock price initially jumped then pulled back. The fuse was simple: next quarter’s gross margin guidance of 86.25%—just a bit lower than this quarter’s 87%.
Morgan Stanley has brought the new question to the stage: it doesn’t really matter how strong the cycle is; the real issue is how long it can last. Meanwhile, the CEO’s remarks point to tighter supply and demand in 2027 and 2028.
Which side are you on? Is this ironclad evidence of real AI demand—or a sign that the cycle may be peaking?
#美光 #AI
In Q4, revenue hit $54.2 billion, up nearly 4x year-over-year. Gross margin surged to 87%, and next-quarter guidance went straight to $61.5 billion—beating expectations across the board.
After the close, the stock price initially jumped then pulled back. The fuse was simple: next quarter’s gross margin guidance of 86.25%—just a bit lower than this quarter’s 87%.
Morgan Stanley has brought the new question to the stage: it doesn’t really matter how strong the cycle is; the real issue is how long it can last. Meanwhile, the CEO’s remarks point to tighter supply and demand in 2027 and 2028.
Which side are you on? Is this ironclad evidence of real AI demand—or a sign that the cycle may be peaking?
#美光 #AI