MU – Market expectations are for Uniform ROA to decline, but management is confident in storage demand and investments

• Micron Technology, Inc. (MU:USA) is currently trading well below corporate averages relative to UAFRS-based (Uniform) Earnings, with a 8.9x Uniform P/E, implying bearish expectations for the firm. However, management is confident in content storage demand growth and investments in cost reduction and product development
• Specifically, management is confident in video, computational photography, and 4K content storage demand growth, as well as Samsung Galaxy S10 Plus’ DRAM and NAND component requirements. Additionally, they are confident about demand elasticity tailwinds, as well as their investment in and execution of strategic cost reduction and product development initiatives