Introduces topic: Micron's big earnings beat with 200% revenue growth, asks Angelo Zino about the most important driver.
Jenny Horne
Angelo Zino
Identifies pricing on DRAM and NAND as the single most important driver, driven by high-bandwidth memory demand from hyperscalers.
Asks Steven Sopko about Micron's biggest constraint and importance of new capacity.
Jenny Horne
Steven Sopko
States key constraint is production capacity, not demand. Company sells everything it can make, driven by AI's need for high-bandwidth and server memory.
Asks Angelo Zino how Micron maintains its high-bandwidth memory edge.
Jenny Horne
Angelo Zino
Praises Micron's pivot to HBM, but cautions that aggressive CapEx must be managed to ensure long-term free cash flow potential.
Asks Steven Sopko about the importance of Idaho and New York fabs for supply and strategic positioning.
Jenny Horne
Steven Sopko
Affirms the investments are essential for capacity repatriation and to meet demand. Micron is historically conservative, so spending signals necessity.