- Elon Musk said Micron has been reasonable on future memory pricing while rivals have been extortionate, calling it a smart move for long-term customer loyalty.
- JPMorgan expects memory supply shortages to persist through 2028, with HBM demand from AI infrastructure outstripping supply.
- MU stock fell over 14% in four sessions through Tuesday, October 13, while the iShares Semiconductor ETF (SOXX) extended its losing streak to six sessions.
- Micron reports 26 long-term supply agreements covering more than 35% of revenue through 2030 and $150 billion in contracted backlog, according to analyst Nicholas Mugalli.
- Stocktwits sentiment on MU turned bearish from bullish on Tuesday, although several traders viewed Musk's comments as a positive endorsement.
- A Seeking Alpha analysis says Micron slid from $1,097 after earnings to $953 as CXMT's new DRAM cell design landed on a semiconductor selloff already underway.
- Roundhill's Drew Pettit says memory stocks face a growth transition as mega-cap tech hits new highs on surging earnings revisions.
Quotes
“Micron has been reasonable regarding future memory prices, while others have been extortionate, which is something today's customers won't forget”