Memory Is the New Intelligence: Micron's Manish Bhatia at JPMorgan
BluBird Capital | May 20, 2026
I listened in this morning - at JPMorgan’s TMC Conference for Micron’s session with EVP of Global Operations Manish Bhatia. Unlike an earnings call where management controls the narrative, a banker-moderated conference format puts pressure on the answers. The questions were pointed. Bhatia held up well and gave us more operational specificity than most investors will know what to do with. In short, supply tight till end 2026 and my guess even longer. He spoke of improved yields, product future with HBM4E. How their engineering and manufacturing capabilities are ramping up. Micron is not building in New York, Taiwan, Singapore without guidance in long term.
In other news - Our PPTA and UAMY picks were each up 14% today, in one single day, added in yesterdays critical mineral/ Rare Earth flash crash. These are trades and i told subs the range they trade at so you can set a limit to sell.I have been to enough conferences to tell you critical minerals and rare earths are going to get a bigger piece of the GDP. The geopolitics has made it imperative that US secure its own Critical minerals and rare earths for long term.
Below is my read of what mattered on Micron.