Micron 展现出强劲的财务表现（营收/利润/利润率），但其是否仍属周期性大宗商品业务存在不确定性。
逐段跳播
我们来谈谈Micron的一些好消息。他们在那里满负荷运转。我看到的关于这份报告的一条评论来自Ross Gerber，我知道他曾和我们一起上过节目，他说Micron是一个真正的巨兽。
数字惊人且不断改善。他说它不再是一家业务周期波动的公司。
Let's talk about some good news at Micron. They are working at full capacity there. One of the comments I see about this report is from Ross Gerber, who I know was with us on air, saying that Micron is a real monster.
Amazing numbers and constantly improving. He says it is no longer a company with a volatile business cycle .
我不知道我是否该这么说，因为很多人把它看作只是一段更长的过程。是的，我们在节目里谈过这个，Diane，我认为这是关键因素之一，因为这个行业历来是科技领域的一个周期性行业或大宗商品，也许它不会一直如此，而这正是担忧所在。
I don't know if I should say that, because many people see it as just a longer course. Yes, we talked about this on our show, Diane, and I think this was one of the key factors, because this sector has historically been a cyclical sector or a commodity in the technology field, and perhaps it won't remain so, and that 's the concern.
记住，他们正在尽可能提高产量以满足需求，但他们也将在未来两年内努力增加产能。
Remember that they are ramping up production as much as possible to meet demand, but they will also work to increase production capacity over the next two years.
但Micron再次实现了巨额利润，这就是该股今年迄今上涨超过270%的原因。该股今天持稳，略有下跌，但营收达到54.23亿，超过了约51亿的预期。
But Micron has once again made huge profits, which is why the stock has risen by more than 270% so far this year. The stock is holding steady today, with a slight decline, but revenues reached 54.23 billion, exceeding estimates that were around 51 billion.
调整后每股收益为33.42，而预期不到32美元。因此，这是一个很大的优势。2026年全年营收约为1332亿。这代表同比增长256%。54.23亿的营收数字同比增长379%，环比增长31%。
Adjusted earnings per share were 33.42, compared to expectations of less than $32. Therefore , it was a strong advantage. Full-year revenues for 2026 amounted to approximately 133.2 billion.
This represents a 256% year-on-year increase. The revenue figure of 54.23 billion was up 379% year-on-year and 31% quarter-on- quarter.
所以，这真的很好。如果你看利润率。这是投资者一直在关注的事情之一。利润率何时会稳定下来？
So, this is really good. And if you look at the margins. This was one of the things that investors were watching. When will the margins stabilize?
嗯，毛利率达到87%。这甚至高于一些人此前预测的未公布数字。接下来是数据中心板块，该板块实现了巨大飞跃，利润率达到90%。所以，一切进展顺利。
Well, the gross profit margins reached 87%. This was even higher than the unannounced figures that some had predicted. Then there is the data center sector, which has made a huge leap, with margins reaching 90%. So, everything is going well.
他们已上调了对未来一段时期的预期。如你所知，评级对这家公司来说仍是一个悬而未决的问题。就这家公司的预期市盈率而言，我们目前处于个位数水平。
They have raised their expectations for the coming period. As you know, ratings are still an open question for this company. We are in the single digits with respect to this company's forward price-to-earnings ratio .
他们给出了更好的未来预测，预计2027年将继续扩张。
They are offering better forecasts for the future , predicting continued expansion in 2027.
这个频道对 $MU 的历次判断
Schwab Network 在这只股票上共 18 条判断，这里只列相邻的几条。