Equity Long-Short

Mo Aziz

Capital markets veteran with 25 years across sell-side and buy-side research, investor relations, and fund management. Currently publish independent equity research (Mofferies Investment Research, via Smartkarma) spanning semiconductor memory (DRAM/NAND/HBM), foundry, semiconductor equipment and advanced packaging, gold and cross-asset strategy, financials forensics, and APAC IPOs — with a standing watchlist of 190+ companies across 41 countries. Background includes deep aviation-sector expertise (airlines, airports, OEMs, lessors, air cargo, travel/OTAs). Approach centers on identifying cyclical inflection points and mispriced risk across sectors, translated into explicit, actionable calls.

Semiconductor Memory Earnings (3Q26): Street Expects +30% QoQ Growth — It Will Get It Easily

Micron’s FY26 Revenue Soars 3.5x YoY. FY27 Looks Even Better, Right? Key Takeaways & Full Transcript

Micron (MU US) 2QFY: Record Earnings, Crowded Expectations — The Trap Is in the Whisper

Micron Technology (MU US): Looking Good Ahead of Its Q4FY26 Results on 30 Sept

Micron @ KeyBanc Technology Leadership Forum. Key Takeaways & Full Transcript

Equity Bottom-Up

<ul>
<li>Micron FQ4-26 revenue of US$54.2bn beat the US$50bn guide by 8.5%; gross margin 87.0%, EPS US$33.42 versus US$31 guided. FQ4 had 14 weeks: per-week revenue growth was ~21%, not 31%.</li>
<li>FQ1-27 guide of US$61.5bn revenue and US$38.15 EPS is ~8-9% above Street. SCAs rose to 26, RPO to ~US$150bn, coverage &gt;35% of revenue to 2030. 86.25% gross margin guide.</li>
<li>BULLISH, TP US$1,375 held (11x FY27E EPS US$125): +28.5% upside. The FQ1 guide annualises to US$153, so the anchor is conservative and the bias is up. </li>
</ul>


Micron FQ4-26 revenue of US$54.2bn beat the US$50bn guide by 8.5%; gross margin 87.0%, EPS US$33.42 versus US$31 guided. FQ4 had 14 weeks: per-week revenue growth was ~21%, not 31%.
FQ1-27 guide of US$61.5bn revenue and US$38.15 EPS is ~8-9% above Street. SCAs rose to 26, RPO to ~US$150bn, coverage &gt;35% of revenue to 2030. 86.25% gross margin guide.
BULLISH, TP US$1,375 held (11x FY27E EPS US$125): +28.5% upside. The FQ1 guide annualises to US$153, so the anchor is conservative and the bias is up. 


Micron Technology (MU US) FQ4-26 Results: Beat on Every Line, FQ1 Guide ~8% Above the Street