On Wednesday, Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, praised Micron Technology. Gerber Flags Micron Technology Low Forward P/E Taking to X, Gerber said, "I love that there is a very good chip company with insane growth ahead, trading at a 4 forward PE…. thank you. $MU." I love that there is a very good chip company with insane growth ahead, trading at a 4 forward PE…. thank you. $MU Analysts See About 40% Upside In Micron Technology Shares of the company on Wednesday closed at $ ...

Core Insights - Apple's recent earnings call highlighted significant supply constraints in the memory chip market, which could positively impact Micron Technology's business prospects [1][5][9] Group 1: Apple's Earnings Call Insights - The term "memory" was mentioned 16 times during Apple's Q1 earnings call, indicating a strong focus on the memory chip supply-demand imbalance [2] - Apple CEO Tim Cook stated that the company is in "a supply chase mode" for memory due to robust iPhone demand, and he noted that supply constraints are currently affecting Apple's operations [3] - Cook expects memory prices to increase "significantly" beyond Q2, reflecting the ongoing supply issues [4] Group 2: Implications for Micron Technology - Although Micron was not mentioned directly during the earnings call, the supply constraints discussed by Cook are seen as favorable for Micron, which supplies approximately 30% of DRAM and NAND chips for Apple's iPhone 17 [5][6] - Apple's efforts to secure long-term memory contracts from suppliers like Samsung and SK Hynix indicate the severity of the memory shortage, which could benefit Micron as a key player in the market [7][9] - Cook's mention of "different levers" Apple can use to address supply constraints suggests potential opportunities for Micron to negotiate favorable contracts [8] Group 3: Micron's Market Position - Micron's stock has seen a significant increase of approximately 380% over the past year, yet its forward price-to-earnings ratio remains low at 13.1, indicating potential for further growth [10][11][12] - The consensus price target for Micron is 15% below its current share price, but the dynamics in the global memory market are expected to continue favoring Micron's position [12]

5 December 2025 | 9:50AM SGT Portfolio Strategy Research Bruce Kirk, CFA +81(3)4587-9950 | bruce.kirk@gs.com Goldman Sachs Japan Co., Ltd. John Kwon +65-6654-6337 | jongmin.kwon@gs.com Goldman Sachs (Singapore) Pte ASIAN EQUITY PERSPECTIVES A global investor pulse check In recent weeks, we have had extensive discussions regarding Asian equities with investors in the US, Europe, Singapore, and the Middle East. Overall, we found broad agreement with and interest in the five themes through which we frame our v ...