Aletheia on $MU: "We forecast MU’s EPS to jump 8.5x in CY27E, followed by a further 1.8x expansion in CY28E. This implies roughly 15x cumulative EPS growth and $350–400bn of FCF generation in FY26-28E." "We now expect server DRAM ASP to jump a further 30% in C3Q26 (vs previous expectation of 10- 15%); this is likely to rise by another 10-15% in C4Q26 (same as previous expectation)" "we now expect HBM ASP to double YoY in C2027" "Our analysis shows that memory devices are becoming the most critical components in the AI hardware system as their combined content value are expected to cross over 70% in 2027 vs mid-40%s in 2025. For DRAM-intensive device such as Vera CPU, the SoCAAM alone contributes over 70% of BOM in 2H26; the full spec Vera CPU rack could reach a staggering $26M ASP per rack..."