Sanjay Mehrotra

The December 9, the, the day after that buyback, the day, you know, he'll announce...

Sanjay, I hope, will come on the show, uh, Sanjay Mehrotra, the CEO, uh, announce the buyback, and I think it could be bigger than any other b- buyback ever, including Nvidia's.

Including Nvidia.

Including Nvidia's.

This is all related to the CHIPS Act and like they-

Right, but I have to tell you that when it comes to the non-cyclical nature of Micron, I've never seen anything like it.

I, we sat down at lunch, and I said, "Sanjay, you're no longer a cyclical company.

You're a secular growth company." He said, his first reaction was, "Yeah, with, with the, with a six multiple." It doesn't make sense.

This surge comes as the company warns of a worsening global memory shortage expected to extend into 2028.

CEO Sanjay Mehrotra noted that most of next year's supply is already committed, suggesting that prices for memory components could continue to rise.

This shortage has already impacted the cost of servers, storage and PCs, and the trend is expected to persist.

As demand outpaces supply, businesses and consumers may face higher costs and potential delays in accessing memory-dependent technologies.

And that HBM share allows them to continue to push the revenue up.

So they're basically, you know, uh, Sanjay Mehrotra came out, and, uh, you guys have probably seen what I've posted, but I said, "Look, no, there's no supply relief probably till 2030." Um, and it seems that the, the inside voices I'm hearing, from '29, '30, but this is without really thinking about new growth that's gonna come online.

Growth in humanoid, growth in physical AI and autonomy, growth in new AI platforms, um, edge devices, hybrid infrastructure, and then of course data centers being consistently underestimated in terms of total capacity required.

Um, so there's a very realistic chance that this cycle doesn't end for a decade.

The market right now for memory is tight.

C- CEO Sanjay Mehrotra telling us earlier this morning that it is increasing capacity.

$250 billion of investment in Idaho, New York, and Virginia to grow memory capacity here, create 90,000 jobs, and of course, working with the communities to, even before we had first shovel in the ground, working with the communities, working with the power utility companies.

Mehrotra went on to say Micron is spending more, not just on its manufacturing plants, but putting hundreds of millions into the communities it's building into, just two days after President Trump said big tech would need to invest in making data centers, quote, "very financially beneficial to the communities where they are located." Uh, the other catalyst likely driving the stock is, yes, margins.

They have pricing power.

They have demand.

But on the call, and even, um, Sanjay Mehrotra even on, during our interview, made a, a point that higher compensation is key to maintaining their competitive edge, and I thought that was really notable because what we're seeing across this AI ecosystem, you could argue, is a talent grab.

Case in point, MongoDB C- CEO CJ Date getting an offer he could not refuse from Meta CEO Mark Zuckerberg.

This gives us tremendous visibility, certainty of demand, and that helps us plan our investments in manufacturing capacity with confidence.

Mike Ryan, Sanjay Mehrotra talking to us last hour on customer demand.

The tech giant did report a blowout 4Q.

The stock lower this morning despite that strong showing.

Micron expects gross margins around eighty-six point two five percent, down seventy-five basis points, largely due to the cost of additional cost tied towards manufacturing incentives, compensation, and startup expenses.

Micron CEO Sanjay Mehrotra did a CNBC interview this morning.

"Company delivered exceptional quality," he said.

"Cost of goods sold impacted gross margins.