美光科技：DRAM 超级周期延续，维持买入评级

Ac t i o n | 19 Mar 2026 06:13:29 ET │ 17 pages Micron Technology Inc (MU.O) DRAM Supercycle; Maintain Buy CITI'S TAKE MU was -4% after blowout earnings (see results) as higher FY27 capex and peak gross margins concerns (81% > Nvidia 75%) likely induced some profit taking after a strong stock run into the print. We believe the big investor debate on the stock is if the stock will continue to rise with rising DRAM prices, like during the Windows PC DRAM cycle in the 1990s, on strong AI demand coupled with li ...