Micron Technology, Inc. is re-rated as a Buy, supported by strong revenue visibility, pricing power, and robust demand through FY30.
CXMT’s technological advancements pose a long-term threat, but meaningful competitive impact on MU is unlikely before 2028.
MU’s HBM segment is narrowing its margin gap with conventional DRAM, with higher selling prices and strong demand driving margin expansion in FY27.
With a $150B backlog and 35%+ revenue covered through 2030, MU’s risk-reward profile remains attractive despite competitive and supply risks.
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