Moda Notícias 1 Setembro 2025

January 20, 2026, 4:08 AM EST. Micron Technology trades at about 10x forward earnings, far cheaper than peers around 30x. The stock's cheapness reflects memory chips' cyclical nature, not a lack of demand. Analysts forecast 133% growth next quarter and about 100% growth for fiscal 2026, powered by a surge in AI memory needs. Memory is more commoditized than logic chips, and capacity can overshoot demand, depressing prices in cycles. Yet Micron's capacity is near peak, and executives describe demand as more than sold out, with HBM memory set to grow at roughly 40% CAGR. If demand remains robust, the stock could re-rate as earnings rise. Caveats remain: cyclical timing and overbuilding can weigh on valuations.