"Path for Micron to buyback 30% of the company over the next two years and potentially ABOUT HALF through C2029" 👀🔥🔥
If you divide the gain between half the persons.... what happens frens?? 😉
$MU 🚀🪐
"Micron to buy back 30-50% of the company in the next 2-3 years" - UBS
"Given FCF of ~$155B/~$225B/~$205B for C2027/2028/2029E, respectively, this implies the repo here could be in a similar ballpark as NVDA despite having an 80% smaller market cap. Said differently, this now lays the path for MU to buy back ~30% of the company over the next two years and potentially about half through C2029.
Ultimately, we think the market will reward this stock with a much higher P/E multiple as it sees a cycle play out in which MU's gross margins probably don't go below 65-70%, but in the meantime TBV/share should approach $360 by CYE28 - keeping a solid floor under the stock given much higher RoE across the cycle going forward as memory is critically important in an AI world."