Valoprime Capital@Valoprime_ai

Long/short investment firm. Tech led, innovation driven.

Joined July 2026
Even the buyer side is warning. Intel CEO Lip-Bu Tan said in February that two key memory players told him there's "no relief until 2028." He used to say don't invest in memory, it's a commodity business. Now he says it's different.
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Why $DRAM? Samsung (005930.KS), SK Hynix (000660.KS) and Micron ($MU) make over 90% of DRAM revenue. $DRAM holds all three, plus Kioxia, $SNDK and $STX. One US-listed ticker. The whole oligopoly.
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Memory cycles always ended the same way: supply showed up. This time, supply shows up in 2028. That's the whole thesis behind $DRAM, $MU and the memory complex. *We are long $DRAM among other names in memory at Valoprime Capital LTD. Not a financial advice
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But the beat isn't the story. Visibility is. Micron says the vast majority of 2027 HBM supply is already contracted at much higher prices. Demand beats supply through 2028. TrendForce sees 2027 HBM contract prices up 70% to 140%. 2027 is mostly sold.
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Why can't supply just catch up? Cleanrooms take years. Micron's new ones land late 2028 and beyond. And HBM eats wafers that used to make regular DRAM: ~18% of wafer starts in 2025, ~30% by 2027 (TrendForce). Every wafer HBM takes is one less for everyone else.
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This isn't a spot-price story anymore. Micron has 26 strategic customer agreements: $32B in customer commitments, covering about 35% of estimated revenue through 2030. Less commodity. More contract.
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Micron's last quarter: Revenue: $54.2B (+379% YoY)
EPS: $33.42 (vs $3.03 a year ago)
Gross margin: 87% Next quarter guide: $61.5B vs ~$57B expected. One quarter now beats Micron's entire fiscal 2025 revenue ($37.4B).
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Memory was the sector everyone told you to avoid. Commodity. Cyclical. Boom and bust. Then $MU printed an 87% gross margin. Here's why we think this cycle is different, and why $DRAM is the cleanest way to own it
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