Micron 3QF Y26: Strong near-term momentum but SCAs thus far still can‘t avoid cyclicality

Research evidence excerpt

Micron 3QF Y26: Strong near-term momentum but SCAs thus far still can‘t avoid cyclicality

Mark Li +852 2123 2645 mark.li@bernsteinsg.com 25 June 2026

in the previous section.

• Autonomous operates as a separate business unit within the following entities: Bernstein Institutional Services LLC,

Bernstein Autonomous LLP, Sanford C. Bernstein (Hong Kong) Limited 盛博香港有限公司 and Sanford C. Bernstein (India)

Private Limited. For information relating to “Autonomous” branded products (including certain Sales materials) please visit:

www.autonomous.com. For information relating to Bernstein branded products please visit: www.bernsteinresearch.com.

Analysts are compensated based on aggregate contributions to the research franchise as measured by account penetration,

productivity and proactivity of investment ideas. No analysts are compensated based on performance in, or contributions to,

generating investment banking revenues.

This report has been produced by an independent analyst as defined in Article 3 (1)(34)(i) of EU 596/2014 Market Abuse

Regulation (“MAR”) and the same article of MAR as it forms part of United Kingdom domestic law by virtue of the European Union

(Withdrawal) Act 2018.

To our readers in the United States: Bernstein Institutional Services LLC, a broker-dealer registered with the U.S. Securities

and Exchange Commission (“SEC”) and a member of the U.S. Financial Industry Regulatory Authority, Inc. (“FINRA”) is distributing

this publication in the United States and accepts responsibility for its contents. Where this material contains an analysis of debt

product(s), such material is intended only for institutional investors and is not subject to the US independence and disclosure

standards applicable to debt research prepared for retail investors.