The New Micron: Stronger than Ever, But Current Levels Still Look Expensive Relative to $36 FVE
On May 21, Micron hosted an upbeat analyst day as the memory supplier enjoys an unprecedented DRAM and NAND pricing environment that has fueled robust revenue growth and profitability levels. Management increased its fiscal third-quarter guidance from a midpoint of $7.4 billion in revenue and $2.83 in non-GAAP EPS to $7.75 billion and $3.14, respectively, owing to persisting favorable supply/demand dynamics across memory and storage markets. We concede Micron is well-positioned to benefit from a...Micron Technology provides memory and storage solutions. The company's portfolio of memory and storage technologies include Dynamic Random Access Memory, Not And, 3D XPoint? memory, and Not Or. The company's segments are: Compute and Networking Business, which includes memory products sold into client, cloud server, enterprise, graphics, and networking markets; Mobile Business, which includes memory products sold into smartphone and other mobile-device markets; Storage Business, which includes Solid-State Drives and component-level solutions sold into enterprise and cloud, client, and consumer storage markets; and Embedded Business, which includes memory and storage products.
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