🥛 Samsung > Micron? 🤔

Q: Melvin prefers Samsung over Micron, citing HBM pricing power and a cheaper valuation (~4x vs ~7x for

Melvin prefers Samsung over Micron, citing HBM pricing power and a cheaper valuation (~4x vs ~7x forward earnings).

Q: Micron reported $54.2B revenue (+379% YoY) with 87% gross margin, and its stock is up ~237% this yea

Micron reported $54.2B revenue (+379% YoY) with 87% gross margin, and its stock is up ~237% this year.

Q: Samsung is expected to post record ~$80B operating profit in preliminary Q3 results on Oct 8, up fro

Samsung is expected to post record ~$80B operating profit in preliminary Q3 results on Oct 8, up from ~$66B in Q2.

·Wednesday, October 7, 2026·4 min read

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AI Summary

The newsletter explains why Milk Road analyst Melvin now favors Samsung over Micron in the AI memory chip race, citing HBM4 pricing power, potential HBM market share gains, and a cheaper valuation. It also highlights Micron's strong recent quarter ($54.2B revenue, +379% YoY) and Samsung's expected record Q3 operating profit on Oct 8.

Key Facts

✓Melvin prefers Samsung over Micron, citing HBM pricing power and a cheaper valuation (~4x vs ~7x forward earnings).

✓Micron reported $54.2B revenue (+379% YoY) with 87% gross margin, and its stock is up ~237% this year.

✓Samsung is expected to post record ~$80B operating profit in preliminary Q3 results on Oct 8, up from ~$66B in Q2.

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