展望 2025 年，Hedgeye 认为高带宽内存的供应过剩是一个真正的问题。Micron Technology (MU.US) was added as a new short selling proposal by investment research firm Hedgeye on Monday.
The Zhitong Finance App notes that Micron Technology (MU.US) was added by investment research firm Hedgeye as a new short selling proposal on Monday.
Hedgeye analyst Felix Wang said, “We don't think Micron will leave much of a surprise in fiscal year 2025 (which is expected to grow by 52%), especially when facing seasonal challenges in the second quarter of FY2025 (ending in February 2025).” “Management is trying to lower expectations for the second quarter of FY2025 results guidance.”
Looking ahead to 2025, Hedgeye sees an oversupply of high-bandwidth memory as a real problem.
Wang said, “DRAM production capacity is likely to reach a new high next year. It may only be a matter of time before Samsung's HBM3e challenge is resolved and validated. Samsung is facing a lot of issues and needs to desperately catch up. This will exacerbate supply concerns next year.”
NAND flash memory also showed no signs of recovering in 2025.
“Despite improvements in Micron's tone/guidance in non-AI fields (such as mobile/PC), we are skeptical about its recovery in 2025,” Wang added. “Inventory issues remain due to weak demand in some consumer end markets.”
Micron's stock price has fluctuated greatly this year. The company's stock price hit a record high of $153 on June 18, but fell more than 40% to $86 by early August.
