《Micron is a Value Stock. You've Been Lied To.》
MU 因当前盈利高企、远期市盈率仅 6.8 倍而被视为被低估的“价值股”，AI 需求提供支撑，但若供给超过需求，未来利润率存在被压缩的风险。
这就是 Micron，一家市值 1.2 万亿美元的半导体公司，正受益于当前 AI 数据中心的建设。而它的市盈率只有 2027 年盈利的 6 倍。
This is Micron, a $1.2 trillion semiconductor company that's benefiting from the current AI data center buildout. And it's only trading at 6 times 2027 earnings.
所以今天我要深入讲讲，为什么 Micron 的市盈率只有明年盈利的 6.7 倍，以及为什么尽管过去 5 年上涨了 1,400%、过去一年上涨了近 500%，按盈利来看这只股票今天实际上反而更便宜了。
So today I'm going to dive in why Micron is trading at 6.7 times next year's earnings and why despite going up 1,400% over the past 5 years and nearly 500% over the past year, the stock is actually cheaper today based on its earnings.