Earnings Edge

Earnings Edge

Previews

Fade the Rip? Previewing Micron's Earnings

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Consensus Media
Dec 17, 2025
∙ Paid

Have the memory stocks gotten too far ahead of themselves? They often do, in both directions, riding huge, cyclical momentum waves. Interestingly, as outlined below, valuation continued to come in throughout the quarter despite significant outperformance (as sell side analysts chased memory prices higher). We head into this afternoon’s print at ~11x forward earnings, a low of the last year:

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