美光是首选：美国唯一的高带宽内存制造商，其合同锁定了 2027 年前的大部分 HBM；预计内存短缺将在 2027 年和 2028 年加剧，因为内存不再具有周期性。尽管估值超过一万亿美元，其市盈率仅为未来盈利的六倍。
逐段跳播
帮助我在市场其他人之前好几年就找到了Nvidia、TSMC和Micron这样的优秀股票。
helped me find excellent stocks like Nvidia, TSMC, and Micron years before the rest of the market.
还有Broadcom、Micron、AMD、Palantir和Lam Research等其他优秀公司，全都位列前十。
with other great companies such as Broadcom, Micron, AMD, Palantir and Lam Research, all in the top ten .
例如，Micron去年10月在Quantum System中被评为评级最高的半导体股票，尽管那一年它的股价已经涨了一倍多。
For example, Micron was the top-rated semiconductor stock in the Quantum System last October, even though it had already more than doubled that year.
团队选择它，不仅是因为人工智能，也是作为在汽车、工业和手机领域对存储器的多元化投资。自那以来，Micron的股价已上涨超过400%。
The team chose it not only because of artificial intelligence, but also as a diversified investment in memory across the automotive, industrial, and mobile phone sectors. Micron's stock has risen by more than 400% since then.
所有这些公司的另一个共同点是，它们在存储器上都依赖其他公司。AI芯片的速度取决于其所支持的存储器的速度。高带宽存储器是当今构建人工智能的最大瓶颈之一。
Another thing all these companies have in common is their reliance on other companies for memory. The speed of AI chips depends on the speed of the memory they support. High-bandwidth memory is one of the biggest bottlenecks in building artificial intelligence today.
地球上几乎所有的高带宽存储器都只由三家公司生产。在这些公司中，Micron是唯一一家总部位于美国的。Micron已经签下合同，以高得多的价格锁定了其大部分高带宽存储器直到2027年的产能。
Almost all high-bandwidth memory on the planet is made by just three companies. Of those companies, Micron is the only one headquartered in the United States . Micron already has contracts that reserve most of its high-bandwidth memory until 2027 at much higher prices.
他们预计，随着人工智能需求持续增长，存储器短缺将在2027年和2028年加剧。这就是为什么AI公司会签订多年期合同，并预付尚未生产的存储芯片的款项。
They expect the memory deficit to worsen in 2027 and 2028 as demand for artificial intelligence continues to increase. This is why AI companies sign multi-year contracts and pay upfront for memory chips that have not yet been manufactured.
Micron拥有320亿美元的客户负债，其中大部分是现金存款。正如我过去两年一直在说的，存储已经不再是一种周期性的商品。
Micron has $32 billion in customer liabilities, most of which are cash deposits. As I've been saying for the past two years, memory is no longer a cyclical commodity.
上个季度，Micron的营收达到540亿美元，同比增长近5倍，毛利率为87%。尽管Micron如今的估值超过一万亿美元，但其市盈率仍只有未来盈利的六倍。
In the last quarter, Micron's revenue reached $54 billion , nearly 5 times year-over-year, with gross profit margins of 87%. Although Micron is valued at over a trillion dollars today, it still trades at only six times its future earnings.
所以，当华尔街分析师争论哪种芯片最快时，无论结果如何，TSMC和Micron都在赚取利润。
So, while Wall Street analysts argue about which chip is the fastest, TSMC and Micron are reaping the profits either way .
这个频道对 $MU 的历次判断
Ticker Symbol: YOU 在这只股票上共 3 条判断，这里只列相邻的几条。