Micron (NASDAQ:MU) was added as a new short at Hedgeye as the firm recommends investors take profits.
“We are pivoting and moving MU to an Active Short (flipping from Active Long),” Hedgeye analyst Felix Wang wrote in a note on Monday. “MU was one of the biggest outperformers in large cap semi post the Liberation Day surge. Time to take profits.”
Wang believes with Samsung’s “competitiveness with HBM4 rising and its ability to re-enter the HBM horse race with NVDA, we think Micron is in trouble,” he wrote.
Multiple sources mention that Samsung’s 1c DRAM yields are “stabilizing with yields exceeding 50%,” according to Hedgeye’s Wang.
Wang cut MU’s HBM revenues for 2026 to $10bn (previously: $10.5bn), which is 7% below the Street. He also believes that Micron’s 2026 revenue estimates of $48bn may be “too high at the moment.”
Micron’s short interest is 2.5%.