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Micron's next earnings report has become one of the market's most closely watched events, with the memory chipmaker's profit growth approaching 1,000%.
What makes the number striking is where it is coming from: analysts describe the expansion as arriving at nearly pure profit, a margin profile that is beginning to register consequences beyond Micron's own balance sheet and into the S&P 500 itself.
A Profit Surge Rooted in Operating Leverage Profit growth of nearly 1,000% is an unusual figure in any industry.
In memory chips, it reflects what happens when a capital-intensive business moves from oversupply to undersupply fast enough that revenue expands while the cost base barely moves.
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