awesome write-up! I thought it was odd that chips rallied so hard while MU sorta stayed flat. I'm not super technical but if the chip cycle was on this sharp trajectory back up again, one would think that MU would be going up with it. Maybe I'm reading into the reaction to Micron's report incorrectly, but I suspected that chips were getting ahead of themselves to a degree and were setting up for disappointments this quarter - hopefully I can get back into some of my favorites, soon!
Agree with your take on EUV layers but what about litho as a % of WFE? Essentially, if customers migrate to High NA, can ASML offset the deceleration in EUV layer growth with higher priced tools like High NA?
awesome write-up! I thought it was odd that chips rallied so hard while MU sorta stayed flat. I'm not super technical but if the chip cycle was on this sharp trajectory back up again, one would think that MU would be going up with it. Maybe I'm reading into the reaction to Micron's report incorrectly, but I suspected that chips were getting ahead of themselves to a degree and were setting up for disappointments this quarter - hopefully I can get back into some of my favorites, soon!
Have you written anything on SMCI? Or if you haven't, have you seen any good write ups on it?
Agree with your take on EUV layers but what about litho as a % of WFE? Essentially, if customers migrate to High NA, can ASML offset the deceleration in EUV layer growth with higher priced tools like High NA?
Excellent post !! What do you think about INTC after TSM and Asml . Are you bearish on INTC too?