Takeaway: Rolling our current data through the model

Our most recent data includes expectations for h-s-d% price improvement in DRAM contract in 1Q18 (CY), and a delay in pressures on NAND flash spot pricing. Rolling it all through our model looks like a potential profit peak in Nov-18. We note that in previous cycles the stock has peaked coincidentally with profits.

MU | Data Translated To Earnings - chart1