This was a phenomenal quarter, a blockbuster quarter in terms of the aggregate numbers, in terms of the growth, in terms of the margins. I don't think there's a number in here that you can really quibble with. However, I am curious as to where we are in this supercycle or whatever we want to call it right now, and whether investors should still be riding it or maybe be a little bit more cautious.Yeah, remain so. I think we still have some some room to go. Memory is very much a supply driven business.So it's ...

分组1 - The Federal Reserve decided not to change interest rates, indicating a cautious approach to economic conditions, with Fed Chair Jay Powell emphasizing the need to wait for resolution on various economic issues [2][3][5] - The equity markets reacted negatively to the Fed's decision, with significant sell-offs across major indices, including the Dow Jones Industrial Average down 770 points or 1.6% and the S&P 500 experiencing its broadest sell-off of the year [6][7] 分组2 - Micron reported strong second-quarter results with adjusted revenue of $23.86 billion, exceeding the Street estimate of $19.74 billion, and a gross margin of 74.9% compared to an expected 69.1% [10][11] - The company projected third-quarter revenue between $32.75 billion and $34.25 billion, significantly above the analyst estimate of $23.66 billion, indicating robust demand for memory chips [12][14] - Micron's CEO highlighted that the company is experiencing record performance due to strong demand and tight industry supply, with plans to invest in global manufacturing to meet this demand [13][19] 分组3 - The memory chip market is currently characterized by soaring prices due to supply shortages, which are expected to persist for another 4 to 5 years, driven by high computing demand [24] - Concerns were raised about the sustainability of high prices and whether demand will continue to support these levels, especially in light of potential economic pressures [25][27] - Micron is ramping up production of new high-bandwidth memory (HBM) and is closely tied to Nvidia, which is a significant customer, raising questions about future reliance and pricing dynamics [29]