New 5G phones are hot.
New models of electric cars are coming.
Both 5G and electric cars have been driving up the demand for semiconductor memory. However, the recent indications are that in the short term, the demand is weakening. With weakening demand in the short term, prices of DRAM and NAND are flattening. This could have an adverse impact on the earnings of Micron (MU).
Risk Event
MU reports earnings on September 28th after the close. There is a 65% probability of a downside surprise. The CEO of the company is always bullish and does a good job getting on the media and twisting the bad news into good news.