The beat matters less than whether the guide converts it into a durable revision cycle; semis can clear the quarter while the market is already underwriting the next capacity step. I’d watch forward pricing and capex discipline more than the headline EPS reaction.
The beat matters less than whether the guide converts it into a durable revision cycle; semis can clear the quarter while the market is already underwriting the next capacity step. I’d watch forward pricing and capex discipline more than the headline EPS reaction.
This makes sense as the market is forward-looking. It will be interesting to see the guidance and analyst revisions on memory names like $MU.