LOL that is not even a stretch, the consensus 2027E is ~$99,
putting MU on a PE of what, 6.5x.
OTOH, Hynix over in Korea, the leader in HBM, is at ~4x 2027E.
They are considering doing a US ADR. If so, it will of
course be marketed against MU, and some money will move over to
Hynix.
It is a boom-bust industry, and one needs to keep an eye on
capex. Most of the capex in the industry this year is on
technology upgrades, resulting in modest output growth.
Recent step-ups in capex will boost wafer output, likely to
hit late in 2027 or in 1H2028. Usually the new capacity hits
as demand is cooling down, giving you the torpedo.
LOL that is not even
MU
Posted by joss22 on 5th of May 2026 at 11:16 am
LOL that is not even a stretch, the consensus 2027E is ~$99, putting MU on a PE of what, 6.5x.
OTOH, Hynix over in Korea, the leader in HBM, is at ~4x 2027E.
They are considering doing a US ADR. If so, it will of course be marketed against MU, and some money will move over to Hynix.
It is a boom-bust industry, and one needs to keep an eye on capex. Most of the capex in the industry this year is on technology upgrades, resulting in modest output growth. Recent step-ups in capex will boost wafer output, likely to hit late in 2027 or in 1H2028. Usually the new capacity hits as demand is cooling down, giving you the torpedo.
totally agree
Posted by matt on 5th of May 2026 at 11:48 am
totally agree