KB Home ( KBH ) (-0.05%) just reported earnings, showing a decline in home deliveries and home sale prices. The company also downgraded its guidance; it previously forecast $6.3 billion to $6.5 billion in revenue. It now sees $6.1 billion to $6.2 billion.Needless to say, investors want a piece of that growth. Nothing irrational about that, even if the premiums are getting a little hefty. Seems the only thing it's stirring is movement from individual stocks to more diversified ETF products:This is still anal ...

核心观点 - 美光FY25Q4业绩表现强劲 营收和毛利率均超指引上限 主要受益于数据中心需求强劲 DRAM供应紧张及定价优势 [2][24][25] - 公司对FY26Q1及中长期行业前景持乐观态度 预计DRAM和NAND市场供需持续向好 HBM业务成为关键增长驱动力 [5][25][47] - 美光在先进技术领域保持领先 包括1γ DRAM HBM4及G9 NAND 并通过AI应用提升生产效率和产品竞争力 [27][30][26] 财务业绩 - FY25Q4营收113.2亿美元 同比+46% 环比+22% 超指引上限107±3亿美元 [2] - FY25Q4毛利率45.7% 同比+9.2个百分点 环比+6.7个百分点 超指引上限42%±1个百分点 [2] - FY25Q4每股收益3.03美元 净利率31% 同比+14个百分点 环比+7.6个百分点 [2] - 2025财年总营收374亿美元 同比+49% 毛利率41% 同比+17个百分点 [24][38] 产品表现 - DRAM收入89.84亿美元 同比+69% 环比+27% 创单季历史新高 位元出货量环比增长低十位数百分比 ASP环比增长低双位数百分比 [3][39] - NAND收入22.52亿美元 同比-5% 环比+5% 位元出货量环比下降中个位数百分比 ASP环比增长高个位数百分比 [3][39] - HBM营收近20亿美元 年化规模近80亿美元 市场份额持续提升 客户群扩大至六家 [12][29] 终端市场表现 - 云存储部门收入45.4亿美元 同比+214% 环比+34% 受HBM及芯片需求推动 [3][40] - 移动与客户端部门收入37.6亿美元 同比+25% 环比+16% 由DRAM出货量增加及价格改善推动 [3][41] - 汽车与嵌入式部门收入14.3亿美元 同比+17% 环比+27% 由位元出货量增加驱动 [3][41] 技术与制造进展 - 1γ DRAM制程节点以破纪录速度达到成熟良率 比前代技术快50% 并实现首次营收 [27] - HBM4开发进度按计划进行 带宽超过2.8TB/s 引脚速度超过11Gbps 已向客户送样 [30][49] - 与台积电合作HBM4E 预计2027年推出 将提供标准及定制化产品 [12][30] - 在新加坡的HBM封装测试设施按计划推进 预计2027年贡献产能 [28] 市场需求与供给 - 预计2025年DRAM位元需求增长率高十位数百分比 NAND位元需求增长率低至中十位数百分比 [5][23] - 行业DRAM供应紧张 NAND市场状况持续走强 预计2026年进一步收紧 [5][23][36] - 客户库存水平健康 美光DRAM库存低于目标水平且持续改善 [23][55] 资本开支与产能 - 2025财年资本支出138亿美元 预计2026财年资本支出高于2025年 [5][37] - DRAM前道设备与晶圆厂建设推动2026财年资本支出增加 [5][37] - 1γ技术节点迁移将贡献2026年主要DRAM供应增长 [23][37] 各领域展望 - 数据中心：预计2025年服务器总出货量增长约10% 传统服务器从中个位数百分比增长上调 AI服务器增长强劲 [4][29] - PC：2025年出货量增长预期从低个位数上调至中个位数百分比 受Windows 10终止支持及AI PC普及推动 [4][16][32] - 智能手机：维持2025年出货量增长低个位数百分比 搭载12GB以上内存占比持续提升 [4][19][33] - 汽车：ADAS和AI车载娱乐系统推动内存需求增长 [4][19][35] 竞争与战略定位 - 美光在HBM LPDRAM及GDDR7产品领域保持技术领先 与NVIDIA合作推动LPDDR5在服务器应用 [16][31] - AI应用提升公司生产效率 在代码生成等场景生产力提升30%-40% 制造良率显著改善 [26] - 作为美国唯一内存制造商 美光在AI驱动内存需求中具备独特优势 [25][45]

Micron (NASDAQ: MU ) reported blow-out fourth-quarter earnings on Tuesday, driven by strong AI-driven demand for the company's memory solutions, especially its high-bandwidth memory products. Micron reported record results in its Data Center business as well, with HBM-related revenue (including high-capacity DIMMs and server DRAM) shooting upAnalyst’s Disclosure:I/we have a beneficial long position in the shares of MU, NVDA, AMD either through stock ownership, options, or other derivatives. I wrote this art ...

U.S. stock markets opened Wednesday, September 24, 2025, with a positive tone, showing resilience after a choppy Tuesday session where major indexes pulled back from recent record highs. Investors are navigating a landscape shaped by Federal Reserve commentary, upcoming inflation data, and significant corporate developments, particularly within the technology sector.Market Indexes Show Positive OpenIn the early minutes of trading, U.S. stocks were ticking higher, recovering some of the losses experienced on ...

Micron topping Q4 estimates last night. Sales rising 46% thanks to the AI boom. Sales up.You know, these things are up more than 50% in the last month. So, let's not look at this down and say something's wrong. That's important.Joining us now is CNBC exclusive Micron's chairman CEO Sanjay Maroa. Sanjay, it's a delight to have you on the show again. Great to be back on the show, Jim, and the team.Okay, so first before we get into the idea that maybe AI is overbuilt, because I know you've heard that a million ...

Micron Technology, Inc. (NASDAQ:MU) is one of the Best Undervalued Stocks to Invest in According to Reddit. On September 18, Wedbush lifted the price target on the company’s stock to $200 from $165, while maintaining an “Outperform” rating. The firm’s new price target reflects a strong upside from the company’s current trading level. It demonstrates growing optimism about Micron Technology, Inc. (NASDAQ:MU)’s position in the memory market cycle. Notably, the firm calculated the higher target by applying a ...

美国银行：将美光科技(MU.US)目标价从140美元上调至180美元。 ...

美股市场表现 - 三大指数集体高开 纳指涨0.37% 标普500指数涨0.21% 道指涨0.17% [1] Lithium Americas股价异动 - 美国最大锂矿公司Lithium Americas股价暴涨超67% [1] - 美国政府寻求获得公司高达10%的股权 [1] 阿里巴巴合作动态 - 阿里巴巴股价涨近8% 创逾4年新高 [1] - 官宣与英伟达开展Physical AI合作 [1] 美光科技财报表现 - 美光科技股价倒跌超2% [1] - 第四季度营收同比大增46%超预期 [1] - 预计本财季营收将再创新高 [1]

智通财经APP获悉，华尔街分析师在美光科技(MU.US)公布季度业绩与指引优于预期后表示，该公司有 望呈现"全面走强"。 财报显示，美光Q4销售额增长46%，达到113亿美元，分析师此前预计约为112亿美元。若不计某些特殊 项目，每股收益为3.03美元，而分析师的平均预测为2.84美元。美光2026财年第一季度营收预计约为125 亿美元，超出分析师此前平均预期119亿美元。若不计某些特殊项目，每股利润预计约为3.75美元，超 出分析师此前预测的3.05美元。 富国银行分析师Aaron Rakers重申了对美光的"增持"评级，并将目标价从170美元上调至220美元，同时 将每股收益预期区间从15-17美元提升至16-18美元。 他指出，HBM3e价格可能在明年初出现下滑，这并非市场状况重大转折，而是反映2025年定价已在 2024年基本确定，导致那段时间末期价格异常高企。 业绩公布后，其他几家公司也上调了美光的目标价，其中包括巴克莱银行、KeyBanc Capital Markets、 Piper Sandler、Rosenblatt Securities 和 Needham。 不过，摩根士丹利分析师Josep ...

Don’t just invest—dominate with Tech Contrarians' realized return on closed positions of 65.8% since inception. You’ll get exclusive insights into high-focus stocks, curated watchlists, one-on-one portfolio consultations, and everything from live portfolio tracking to earnings updates on 50+ companies. Subscribe today.Micron Technology, Inc. (NASDAQ: MU ) reported its Q4 FY25 earnings after the bell, confirming our belief that HBM has put Micron at the heart of the AI infrastructure boom. The stock's run-up ...