
What does a gross margin of 84.9% for Micron this quarter mean? 1) This margin is more profitable than drug trafficking; 2) NVIDIA’s latest quarterly gross margin is 75.0%; Micron’s gross margin significantly exceeds NVIDIA’s, setting a new record for the highest gross margin among U.S. technology companies; 3) Even more striking is that management expects next quarter’s gross margin to rise further to 86%, indicating that supply-demand imbalances are not easing—but intensifying.

