《Micron's Biggest Story Isn't Memory, It's U.S. Treasuries》
MU 的存储供应已售罄至 2028 年；庞大的资产负债表现金为未来周期性下行构筑了盈利底部，标志着一次结构性的积极转变。
这张图表是在Micron刚刚发布2026财年第四季度财报后更新的，看看利息和投资收益那一栏的巨大跃升，以及它对每股收益的影响。
This is a chart updated right after Micron's Q4 fiscal 2026 report just a little while ago, and look at that huge jump in interest and investment income and its effect on earnings per share.
我们还没有每股自由现金流的数据。Micron尚未提交2026年年报，但我们会讨论这个问题。我们来谈谈Micron。这显然又是一份符合预期的非常好的财报。
We don't have free cash flow per share yet. The 2026 annual report hasn't been filed yet by Micron, but we're gonna be talking about this. Let's talk about Micron. It was, again, obviously, and as expected, a very good report.