Micron's revenue grew faster than its stock over the past year, leaving it cheaper on trailing earnings. Quarterly revenue rose from $11.3B to $54.2B, while the stock rose from about $198 to $878 and trailing P/E fell from roughly 24x to 11.6x. x.com 

Micron delivered a massive quarter and raised guidance, keeping the bullish case intact. Rising bond yields are capping tech for now, so the open question is whether the stock can break out soon. x.com 

Micron's move is parabolic and should see a 50% or larger correction over the next few years. The stock has hit its 1.618 Fibonacci extension from the 2000 high at $1,200+, an 18x return in under 18 months and 120x in 10 years, with many speculators chasing it. Much of the rally is earnings driven, but the market is already pricing in future growth, and price can stay irrational for a while. Holders should trim 50-65% or sell in-the-money covered calls out to end-2027 or early 2028. 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 

Micron's FY2028 earnings could substantially exceed the displayed $206.89 normalized EPS estimate, leaving the shares at about 3x FY2028 EPS. A beat of at least 30-50% depends on demand, pricing, margins and buybacks. x.com 

Micron fell after hours despite a huge fundamental forecast, which shows everything is priced in for now. x.com 

Micron's path to buying back about half of its shares by 2029 is extremely bullish. Per UBS, cited by @techfund1, free cash flow of about $155B, $225B and $205B for 2027-2029 lays a path to repurchasing about 30% of the company over two years and potentially about half through 2029. UBS expects the market to reward Micron with a much higher P/E as gross margins likely hold above 65-70% through the cycle. Wall Street price targets should now reflect much higher P/Es. x.com  x.com 

Micron's AI-driven cash generation looks outsized for its size amid market concern about debt risk. Its quarterly free cash flow has reached about $32.9B in under two years, above the peak quarters shown for Meta, Amazon, Google and Microsoft; only Nvidia and Apple have posted higher quarters, despite each being about five times Micron's size. x.com 

Micron faces a severe crash risk from CXMT's current threat and apparent investor complacency after a euphoric high. If the Wall St Cheat Sheet fits, most of Micron's gains across 40 years, amassed in just one year, could be erased soon. Earlier, Elon Musk said Micron had been reasonable on future memory prices; memory stocks were not yet to be faded. x.com  x.com 

Demand for Micron's products is through the roof, making its revenue surge only the beginning as it heads into 2027. The attached eight-quarter chart puts Q4 FY26 revenue at $54.2 billion, and Micron's gross margin is cited at 86%. A $100 billion revenue quarter could arrive in the not-so-distant future; the stock is a good bet here. x.com