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| HSI1 | 22,671.86 | -405.05 | 342.10B |
| HSCEI1 | 7,460.84 | -147.54 | 100.47B |
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2026-06-26 17:27:52 BofAS published a report stating that Micron Technology, Inc. (MU.US) once again delivered strong quarterly results, reinforcing its constructive view on the role of memory in artificial intelligence and on improving supply-side discipline supporting a more durable cycle. Although Strategic Customer Agreements (SCAs) - now totaling 16 and increasing QoQ - may moderately limit near-term pricing upside, they significantly enhance visibility and reduce volatility by aligning with customers facing a rising 癒禮memory tax癒穡 (accounting for about 35% of AI capital expenditure). Valuation remains attractive, with the shares implying about a 10% free cash flow yield. The broker expects capital returns to increase meaningfully after the December 2026 anniversary of the CHIPS Act. BofAS reiterated its Buy rating on Micron Technology, Inc., raising its EPS forecasts for the coming fiscal years by 4% to 7%. Based on a sum-of-the-parts (SOTP) valuation approach, it lifted the TP from USD1,500 to USD1,550, valuing the core memory business at about 3x book value (previously 2.5x) and the data center/AI business at 31x price-to-earnings (unchanged). While bears may focus on moderating pricing trends, the broker believes continued evidence supports a structural re-rating to 12x-15x price-to-earnings (versus the historical 8x-10x). (da/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |