Memory chip companies are posting big sales leaps, but geopolitical supply constraints—not demand—are pricing the upside. DRAM and NAND margins are inflated by Taiwan export controls and Middle East logistics friction. Micron (MU) illustrates the point: in trailing revenue and a net margin look outsized until you examine the quarterly cadence. Q4 alone generated $4.0B in revenue against $41.40 EPS—a spike driven by scarcity pricing rather than structural demand acceleration.

Research these companies