Memory stocks trade at single-digit forward earnings, yet analysts call them expensive.
By Vlad from Bastion on
Micron and SK Hynix are the poster child of the AI capex boom and will earn huge profits over the next couple of years. That is exactly the trap. Memory is a commodity cycle, mean reversion is inevitable, and the sharp profit contraction always comes.
Worth holding for the upside, but know you own the cycle, not a cheap stock. $MU $SNDK