Ticker Symbol: YOU

"And none of that is in Micron's current hundred billion backlog."

"The 16 strategic contracts cover about a third of Micron's current production, but they have four new fabs either under construction today or breaking ground right now."

"But even if it does, remember Micron gets their hundred billion thanks to the take or pay structure of their strategic contracts with $18 billion already in the bank."

"The biggest risk to Micron is that all three major memory suppliers are expanding capacity at the same time."

"And Micron's leadership says that the HBM market specifically will grow more than twice as fast as that at roughly 40% per year through at least 2028."

"In my opinion, Micron is still so cheap because the market is still modeling it the old way."

"Micron's earnings over the next 12 months are growing so much faster than their market cap that their forward price toearnings ratio is less than six, even though they're posting 346% revenue growth, 85% gross margins, and have a $100 billion backlog."

"That number is over 20 for both Nvidia and Broadcom, even though both companies are still growing fast."

"That number is over 20 for both Nvidia and Broadcom, even though both companies are still growing fast."

"That number is 22 a.5 for Nvidia and 31 a.5 for Broadcom."

"That number is 22 a.5 for Nvidia and 31 a.5 for Broadcom."

"Now, let's talk about my investment thesis for Micron."

"While Wall Street's models are still catching up, Micron just went from zero contracted revenue to a hundred billion backlog with $18 billion already in the bank."

"For the last two decades, analysts that were covering Micron couldn't model next year's revenue with any confidence."

"It's the worst price that Micron will be paid no matter what happens in the market."

"And to lock in their place in line, those customers paid Micron a combined $18 billion upfront."

"Companies like the ones building data centers that run Chat GPT, Google Gemini, Microsoft Copilot, and Meta's AI infrastructure."

"Companies like the ones building data centers that run Chat GPT, Google Gemini, Microsoft Copilot, and Meta's AI infrastructure."

"But Micron just flipped the entire script."

"If Micron's forecasts for memory demand were wrong, then they paid a hefty price."

"like I said at the start of the video, Micron just reported their best quarter ever."

"That's why I keep saying that memory is no longer cyclical and it's not a commodity. It's one of the most valuable parts of the entire AI buildout, which is why Micron has become one of the most valuable companies on the entire market."

"High bandwidth memory isn't just another component on Nvidia's newest Blackwell chips."

"For years, Wall Street analysts focused on the GPU, the chip that does the number crunching and turned Nvidia into the most valuable company on the planet."

"The NVIDIA H100 is the chip that trained most of the AI models that we use today."

"So, let me show you why Micron is still one of the most undervalued AI companies on the market without all the industry jargon."

"Over the next 5 years, Micron is contractually guaranteed to earn their best margins ever."

"So companies aren't just paying Micron for memory chips. They're paying to reserve the right to buy those chips in the first place years in advance."

"On this latest earnings call, Micron announced that they signed 16 strategic agreements with their largest customers, all of which run through 2030."

"I've been covering Micron for years now, and it's my second best performing stock of all time, only behind Nvidia."