J P M O R G A N North America Equity Research 09 January 2026 Semiconductors CES Overview: AI Bookings/Backlog Strength Allay Fears of Peak Spending; Cyclical End Markets Recovery Accelerates with Strong Focus on Physical/ Edge AI J.P. Morgan hosted virtual fireside chats with Marvell and NVIDIA management teams along with in-person meetings/booth tours with Analog Devices, Micron, Synaptics, Synopsys, Skyworks, and Silicon Labs, in conjunction with the 2026 International Consumer Electronics Show (CES). Br ...

Micron Technology, Inc. ( MU ) has delivered on nearly every expectation I had, as outlined in my bull thesis late last year. Within two months, the stock is up by ~40% and near the $350 mark. The Q4 FY 2025I am a stock analyst with over 20 years of experience in quantitative research, financial modeling, and risk management. My focus is on equity valuation, market trends, and portfolio optimization to uncover high-growth investment opportunities. As a former Vice President at Barclays, I led teams in model ...

格隆汇1月13日｜美国银行：将美光科技(MU.US)目标价从300美元上调至400美元；将IBM目标股价从 315美元上调至335美元。 ...

Core Viewpoint - The article highlights the significance of High Bandwidth Memory (HBM) technology, particularly HBM4, as a critical component for next-generation AI systems, addressing memory bottlenecks and enhancing performance for AI workloads [1][2]. Group 1: HBM4 Technology Overview - HBM4 represents a fundamental shift in memory architecture by integrating logic chips into memory stacks, allowing for pre-processing of data before it reaches the main AI processor [2]. - The development of HBM4 aims to significantly improve bandwidth, energy efficiency, and system-level customization capabilities for AI accelerators and data center workloads [1]. Group 2: Key Players and Developments - SK Hynix, a leader in the HBM market with over 50% share, introduced a 48GB 16-layer HBM4 device capable of exceeding 2TB/s bandwidth, with mass production planned for Q3 2026 [3]. - Samsung is focusing on a full-process solution for HBM4, producing logic chips in-house and utilizing hybrid bonding technology to enhance performance and reduce height [4][5]. - Micron is expanding its production capacity for 36GB 12-layer HBM chips and aims to achieve a dedicated wafer capacity of 15,000 wafers by the end of 2026 [6]. Group 3: Market Dynamics and Competition - The competition among HBM manufacturers is intensifying, with NVIDIA's Rubin GPU platform driving demand for HBM4, as it is expected to be one of the first exclusive users of HBM4 devices [2]. - Reports indicate that NVIDIA has revised its HBM4 specifications, increasing single-pin speed requirements to over 11Gbps, prompting manufacturers to enhance their designs [6].

Micron Technology ( MU ) has delivered one of its strongest quarterly results in history, driven by exceptional growth in AI-related demand, record DRAM and NAND prices, and accelerating adoption of high-speed memory. The results and guidanceBears of Wall Street is a community of asset managers and traders who take a pragmatic approach to valuing companies. Bears of Wall Street provide unique research with a bearish sentiment on overvalued or weak companies with declining businesses and poor growth perspect ...

分组1 - Meta Platforms is experiencing significant growth potential with its Meta Ray-Ban Display glasses, which are the first AI glasses featuring a private in-lens display and neural band wrist control, providing a first-mover advantage [3][4] - The user base of Meta Platforms is substantial, with an average of 3.54 billion daily users in September 2025, reflecting an 8% year-over-year increase, representing nearly 43% of the global population, which supports its pricing power with advertisers [5][6] - The combination of a large user base and innovations like AI glasses positions Meta for continued revenue and profit generation, indicating strong stock performance potential [6] 分组2 - Micron Technology is identified as a value opportunity among AI stocks, with a forward price-to-earnings ratio of 10.8 and a low PEG ratio of 0.6 based on projected earnings growth [7] - The current low stock price of Micron is attributed to an outdated view of memory as a cyclical commodity, which does not account for the rising importance of high-bandwidth memory (HBM) in AI chip production [8]

国家知识产权局信息显示，美光科技公司取得一项名为"动态状态寄存器阵列"的专利，授权公告号 CN115705305B，申请日期为2022年8月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：情报员 ...

国家知识产权局信息显示，美光科技公司取得一项名为"使用模式检测预取信息的技术"的专利，授权公 告号CN115268764B，申请日期为2022年4月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：情报员 ...

作者：情报员 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 国家知识产权局信息显示，美光科技公司取得一项名为"针对封装内存储器的直接测试"的专利，授权公 告号CN113921073B，申请日期为2021年6月。 ...

国家知识产权局信息显示，美光科技公司取得一项名为"在可重新配置计算结构中对外部存储器进行索 引"的专利，授权公告号CN115705167B，申请日期为2022年8月。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：情报员 ...