$1,000 follows their calls into $1,034
Narrative Seeker@NarrativeSeekerAt 6x forward, $MU is priced for earnings to fall by more than half after FY28. That requires either 2028 supply arriving a year early or SCAs being torn up at scale, and neither is visible before late 2028. The stock will not re-rate on good fundamentals; it will move on two
Narrative Seeker@NarrativeSeeker$SPY How Rate Volatility Compresses Multiples: The Transmission Chain and Where We Are The 10-year Treasury yield has risen from 4.17% to 5.27% this year. It reaches equity prices through two channels. The first is the valuation benchmark. The 10-year now yields 5.27%, roughly
Narrative Seeker@NarrativeSeeker$SNDK : what the market is still arguing about Buybacks. Mgmt committed 100% of excess cash to repurchases at 50% FCF margin. That's $25B next year, 10% of market cap. Four years at current price retires 47% of shares. For scale: S&P avg buyback yield is 2-3%, Apple at peak was
Narrative Seeker@NarrativeSeeker$SPY How Rate Volatility Compresses Multiples: The Transmission Chain and Where We Are The 10-year Treasury yield has risen from 4.17% to 5.27% this year. It reaches equity prices through two channels. The first is the valuation benchmark. The 10-year now yields 5.27%, roughly
Narrative Seeker@NarrativeSeeker$MU $SNDK $SKHY The Three-Stage Earnings Engine in Memory The growth-vs-cyclical debate on memory stocks carries a hidden assumption: earnings have peaked. Break down what’s actually driving earnings, and the current price surge is only stage one of three. Stage one is pure
