Micron disclosed 16 strategic customer agreements designed to give customers long-term access to memory supply through the end of the decade. Many of those agreements include minimum-price terms or pricing bands — basically, protections that give Micron more certainty around what customers will pay.
The most valuable memory supply is getting locked up before it ever reaches the open market.
That is not how a normal commodity cycle behaves.
And it’s the part of Micron’s quarter investors should be studying most closely.
This post appeared first on InvestorPlace.