Micron Technology, Inc. delivered robust FQ4 results, with $54.23B in revenue, an 87% GAAP gross margin, and $33.42 EPS, highlighting exceptional memory market strength.
MU's forward strategy leverages $50B+ annual capex for early cleanroom construction, aligning future equipment deployment with rising Strategic Customer Agreements (SCAs) covering >35% of 2030 revenue.
Over 75% of FY2027 output is already committed, with $150B in Remaining Performance Obligation and $32B in customer financial commitments, enhancing downside visibility.
I assign MU stock a Strong Buy rating, targeting $1,430–$1,500 per share (30–37% upside), anchored by $125–$135 normalized EPS and disciplined capital allocation.
Micron (MU) & CMBC Capital (01141) : Strong Buys On (10/02)
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