Feed Explorer1️⃣ If this news is true, the impact on Micron is:
1. Short-term earnings: Minimal impact, does not constitute a logic for revenue decline.
2. Mid-term structure: HBM 4 business's "technology tier" is confirmed to be one step behind.
3. Long-term competition: Bargaining power and priority within the NVIDIA ecosystem decline.
4. Capital market: Valuation anchor point under pressure, rather than immediate impairment of profitability.
2️⃣ Impact on revenue and earnings: Not a negative.
• HBM is still in a state of tight supply.
• Micron's current main product is still HBM3E.
• Customers are not limited to NVIDIA (AMD, ASIC, cloud vendors).
This news only indicates:
Micron has not yet entered the first batch of suppliers for NVIDIA's VR series HBM4.
But it does not mean:
• HBM cannot be sold.
• Orders are canceled.
• Idle capacity.
📌 Therefore:
• Does not constitute a direct cause for revenue decline.
• Will not be immediately reflected in quarterly earnings.
3️⃣ The real first-order impact:
HBM4 technology lag is "officialized".
This news is not ordinary rumor, but means:
• NVIDIA has completed HBM4 bandwidth / system-level certification.
• Micron failed to pass or missed that window.
4️⃣ Impact on SanDisk: No impact at all, cannot rule out being wrongly sold off.
$Micron Tech(MU.US)$Sandisk(SNDK.US)
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