Micron's ordinary memory could see tighter supply because HBM consumes far more factory capacity than conventional DRAM. Meeting AI demand could thus extend Micron's opportunity beyond AI memory. x.com 

Micron is one of only three memory makers, and high-bandwidth memory for AI accelerators is the move. x.com 

Networking, power and compute look more durable than cyclical memory in the AI buildout. Lumentum's revenue compounded year after year across the 2010s and 2020s, unlike Micron's; AWS revenue also compounded. Lumentum, Nebius, Bloom Energy and Credo should heavily outperform SanDisk and Micron from here, though AI itself remains heavily doubted. x.com  x.com 

Micron benefits because AI needs more memory capacity and bandwidth. HBM growth and customer commitments support that view, while pricing and returns on new capacity will determine how durable it is. x.com 

Micron looks like a bargain at about 5x forward earnings with 380% sales growth and net profit up 11x, in an AI compute environment where every data point is extremely bullish. A quoted post cites OpenAI nearing $70B in ARR, AI agents becoming a new secular demand driver, record Korean memory-chip exports, and Micron's big beat-and-raise with demand extending another year. x.com 

Micron faces a tough road through 2027 because the current AI spending path is not economically sustainable and tech progress can undercut memory demand. Micron's weak price action on blowout earnings is a tell. Token usage will keep rising, but Nvidia is already pivoting to LPUs with Groq, and tech progress should never be underestimated. x.com  x.com  x.com 

Micron could benefit if memory demand remains strong through 2029. Nvidia CEO Jensen Huang said he sees no sign of demand slowing by then and that "you can always use more." x.com 

Micron makes huge profits from what goes into Nvidia's GPUs, without the circular financing that is a house of cards. Nvidia's products can't be built without Micron's memory, yet Micron fell after Nvidia's earnings when a 10% rise would have made sense. The Nvidia call also signaled demand for TSMC, which makes all the GPUs. SK hynix is less attractive for now because of an upcoming lockup expiry. x.com  x.com 

Micron faces a real risk that political pressure forces a rapid increase in DRAM supply before the midterms. Two years of memory price pressure and shortages could hit cars, washing machines, payment terminals and medical devices, eroding political appetite for unlimited AI buildout support. Supply could be reallocated from AI, or more likely a "project warp speed" program could scale memory output, a disaster for Micron. As in all commodity bubbles, price is the ultimate solution. x.com  x.com 

Micron's sold-out high-bandwidth memory through 2027+ and contracts already being signed for 2029-2030+ extend its earnings runway. At 5x forward earnings, it is cheaper than a year ago; its private Anthropic stake is about to be instantly rerated at Anthropic's IPO, and a new share buyback is expected to be announced Dec. 9. Micron could certainly gain 30% in three months. x.com  x.com