Micron's data center storage profitability questioned, signaling potential durable profit engine catalyst.
Context
What happened: Micron Technology (NASDAQ:MU) is examined on whether data center storage can become a durable profit engine, citing its 245TB 6600 ION SSD for AI workloads and its low forward P/E.
Key numbers: 7x forward P/E, 24x trailing P/E, 5x forward P/E in conclusion, fiscal 2026 EPS $74.33 reported and $75.52 adjusted, fiscal 2027 adjusted EPS about $176, fiscal 2028
Why it matters: The low multiple depends on much higher profits and durable storage margins. Peer SanDisk trades at 6x forward P/E with faster expected EPS growth, and NAND price normalization could compress earnings.