Micron’s earnings surprise and what it suggests about AI-related memory demand

Micron’s latest earnings beat expectations across revenue margins and guidance driven largely by strong HBM demand from AI This suggests memory bandwidth may be a real bottleneck as AI scales
That said MU remains cyclical and risks around oversupply valuation and AI capex slowdowns haven’t gone away
Trying to understand whether this is a true inflection point or just another strong cycle
Interested in counterarguments

Disclosure: I hold MU