Former hedge fund manager Martin Shkreli said Micron Technology (NASDAQ:MU) is closing the profit gap with Nvidia Corp. (NASDAQ:NVDA), and mocked the leveraged traders shaken out by Friday’s memory selloff.

“You guys are staring at the abyss 30 minutes ago thinking like, how do I explain this to my wifey?” he said on a livestream as the market recovered. “We going to Red Lobster again? Again?”

The panic obscured what he sees as the real story. “I think they’re going to do more net income than Nvidia just even next quarter,” Shkreli said, before pulling up the figures. Micron reportedly earned $28 billion last quarter against Nvidia’s $58 billion, with the gap projected to narrow to $35 billion versus $51 billion.

“They’re closing in on each other for sure,” he said.

Why Shkreli Likes The Stock

Shkreli suggested Micron’s gross margins may reach 90%, a level he called “kind of nuts,” as AI demand for high-bandwidth memory reportedly cannibalizes standard DRAM capacity and keeps supply tight.

His model has Micron generating roughly $200 billion in earnings through calendar 2027, leaving the stock at around three times 2028 enterprise value once that cash stacks up. Even if revenue halves and margins crater, he figures Micron may still earn $100 billion.

“I like Micron right now,” he said. “No reason to not like it, but things change quickly.”

The bear case, in his view, is that most of Micron’s business remains commodity DRAM, which he called “relatively easy to make,” with China likely to emerge as a new supplier.

Traders Price a 50% Chance of $810

Polymarket traders think there is a 54% chance the stock hits $810 this week, and a 39% chance it rebounds to $990. It’s currently trading at $883.

On Kalshi, the chance of the U.S. government taking a stake in Micron this year is at 14%.

Shkreli argued Friday’s plunge was mechanical rather than fundamental. “The price is set by the marginal buyer,” he said. “The wipeouts sort of might distort price briefly and then you’re right back to normal price again.”

Michael Burry may disagree. He reportedly opened a short position against Micron near $1,051 earlier this month, shortly before the stock shed roughly $110 billion in market cap in a single session.

MU Stock Price Activity: Micron Technology shares were up 3.62% at $879.71 at the time of publication on Monday, according to Benzinga Pro data.

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