Morgan Stanley Portfolio Manager: ‘I Don’t Think We’re Close’ to a Dot-Com Bubble
Key takeaways
- The analyst who called NVIDIA in 2010 just named his top 10 stocks and Micron Technology wasn t one of them.
- Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, used his recent appearance on Barron s Streetwise podcast to push back on the loudest narrative in markets right now.
- Slimmon s response was that memory stocks "aren t all that expensive," recalling that during the actual late-1990s mania "some of them traded to triple-digit multiples."
Morgan Stanley Portfolio Manager: ‘I Don’t Think We’re Close’ to a Dot-Com Bubble Marieke Feenstra / Shutterstock.com David Beren Sun, May 24, 2026 at 9:44 PM GMT+7 4 min read MU NVDA Quick Read Micron (MU) trades at a forward PE of just 8 with a PEG ratio of 0.259, posting an EPS beat of 39% in its most recent quarter and delivering eight consecutive quarters of dominant earnings beats, scaling from $0.42 in early 2024 to $12.20 most recently, with Cloud Memory Business Unit revenue of $5.28 billion at 66% gross margin.
Unlike the dot-com bubble where companies were valued on unmonetized eyeballs with deferred profitability, Micron’s forward multiple is compressing because realized earnings are expanding faster than the stock price, with an operating margin of 68% and return on equity of 40%.
The analyst who called NVIDIA in 2010 just named his top 10 stocks and Micron Technology wasn t one of them. Get them here FREE.