Wall Street Just Erased $57 Billion From Micron. The Shortage Behind Its Boom Is Getting Worse.

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Micron (MU) shed $57 billion in market cap despite record Q4 guidance of $50 billion revenue at 86% gross margin and forward PE of 6.

An Intel (INTC)-backed memory startup entering the market added competitive overhang, but Micron's $100 billion take-or-pay contract book locks in multi-year revenue visibility.

CEO Sanjay Mehrotra said supply has no line of sight to catch demand, with tight HBM conditions expected to persist beyond 2027.

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