AI's Investment Implications


• Micron (NASDAQ:MU) announces a $10B share repurchase program.
• The program was announced in conjunction with plans to return at least 50% of FCF to investors beginning in FY19.
• Micron shares are up 2.9% aftermarket.


To invest in AI, just read the first paragraph of this article…


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Slide from yesterday’s micron investor day:

Read the texts on the top carefully. That’s the “slowdown of Moore’s law” I have been talking about, and clowns like Cramer don’t get. Each new shrink of the process is taking longer and far more expensive than the past. Corollary is that supply growth will get slower and slower.