MU ripped 325% YTD and the multiple is still catching up. Here's why.

Futurum Equities

Micron just posted 85% gross margins and NVIDIA is trading at 18x forward earnings while Intel sits at 60x. We break down why that dislocation matters and what it means for the broader AI infrastructure trade. MU's blowout quarter is the headline, but the structural story is the strategic customer