· 个股论点
$MU 远期市盈率仍约为 11.6 倍。 它正在预示： - 营收同比增长 133% - 每股收益(EPS)同比增长 319% 这就是所谓的存储超级周期(memory supercycle)的原因。 即使本月已上涨 40%+，它甚至尚未完全完成估值重估(re-rating)。 按当前价格，它仍被估值为一家缓慢增长的大宗商品公司，目标价 $387。 这就是为什么在估值重估过程中，每一次回调都被机构买入，因为高带宽内存(HBM)现在极具价值。 在我看来，鉴于当前的增长/利润率，美光(Micron)至少值得 20 倍远期市盈率，市值约 7500 亿美元，即每股 $672。 到 2027 年，如果美光交易在 1.5 万亿美元市值，我不会感到惊讶。
$MU forward P/E is still ~11.6 It's projecting: - 133% Y/Y Revenue Increase - 319% Y/Y EPS Increase This is called the memory supercycle for a reason. Even after a 40%+ this month, it's still hasn't even been fully re-rated yet. At current prices, it would still be valued like a slow growth commodity at $387. This is why every single dip gets bought by institutions during the re-rating process, since HBM is now extremely valuable IMO Micron deserves at least a 20 fwd P/E at today given growth/profit margins, ~$750B so $672/share. In 2027, wouldn't be surprised if Micron was trading at $1.5T.