Capital ExpendituresMicron Technology's FY26 capital expenditures are below investor expectations, despite an increase from the previous year.
Industry RisksThe anticipated increase in industry capital expenditures, including a 30% rise for Micron, poses a modest risk to pricing despite growing memory content in AI accelerators.
Pricing VolatilityThere is a risk of unsustainably high spot prices for DRAM/NAND that may eventually align with lower contract prices, potentially causing volatility for memory stocks.