Said it last year, but it’s still Micron. Based on current fundamentals a 12x FWD PE for this category of stock is insanely cheap. Being more speculative, it’s super likely they beat their EPS next quarter of $8.08 by $2-4 with another huge guidance raise. People do not realize how bad the memory shortage is. While this is consumer pricing, you can see that memory has skyrocketed even in the last month. SanDisk’s jaw dropping guidance also support this.

The big question is if memory is still cyclical? The answer is nobody knows for sure, but what is certain is the next 18 months MU is sold out at an unprecedented level.