(https://www.marketwatch.com/story/micron-and-sandisk-lead-a-sharp-tech-selloff-in-a-gut-check-moment-for-ai-stocks-cd92fa5d?mod=mw_rss_topstories) in what everyone's calling a 'breather' from AI momentum. But here's the thing — a breather requires something to catch your breath. Micron's operating leverage on capacity cycles is real, but when you're trading at 6-8x forward earnings with 12-15% ROIC, you're pricing zero margin compression risk.