Jo Bhakdi onMUMicron Technology

Joe calls Micron 'completely undervalued' amid a broader semiconductor rally, though he does not give a specific price target or timeframe.

Micron is discussed as a dominant, uncompetable leader in memory chip manufacturing that may eventually join the Terrafab ecosystem as a partner rather than being replaced by Tesla/SpaceX.

Asked how a pause on AI development would affect his Micron position, the host suggested Micron would see a short-term crash from market panic but would remain fine longer-term due to continued massive inference compute buildout. He views Micron as less exposed than Nvidia to any AI-pacing fallout.

Joe groups Micron with the broader memory/semiconductor space that he expects the market to overreact against once fears of an AI training buildout halt spread, likely by around 2028. He separately notes Micron dropped on news of an Intel-funded RAM manufacturing venture that he views skeptically.

The speaker maintains a synthetically leveraged long position in Micron via short puts, expressing continued bullishness despite a rough patch in July tied to the broader momentum-stock selloff.

The host mentions he took a Micron trade that didn't perform well during the recent sell-off, describing it as roughly breakeven with no real alpha generated.

Jo argues Micron is irrationally oversold given its earnings trajectory, calling it a 'screaming buy' and 'generational buying opportunity' despite a brutal short-term selloff with no fundamental justification. He notes the stock trades at a very low forward P/E despite projected massive earnings growth through 2029.

Joe views Micron's sell-off as irrational given surging DRAM/HBM demand that is expected to outstrip supply well into 2028, and believes the stock trades at an absurdly cheap valuation relative to its earnings power. He holds Micron as his biggest personal position and plans to keep it through upcoming Fed and earnings catalysts.

Micron is called out as a predictable AGI-era winner, and its stock has already rallied after earnings as the host anticipated.

Micron reported blowout earnings with 13 billion dollars quarterly revenue, 68% gross margins, 3.9 billion dollars adjusted free cash flow, and guided next quarter revenue to 18 billion dollars. HBM memory is sold out for 2026 and US-based production gives Micron a strategic onshoring advantage. Stock up 11.58% on the news.

Micron Technology is the American-made memory stacked onto GPUs, a super amazing business in the AI infrastructure theme. One of the great things.