Buzzberg Cup Bracket locked

Micron surges to new highs on blockbuster earnings: Jim Lebenthal buys the stock

Watch on YouTube ↗  |  June 25, 2026 at 19:06  |  13:10  |  CNBC
Speakers
Josh Brown — CEO, Ritholtz Wealth Management
Stephanie Link — Chief Investment Strategist, Hightower
Joe Terranova — Senior Managing Director, Virtus Investment Partners
Jim Lebenthal — Partner, Cetera Investment Management
Scott Wapner — Host, CNBC

Summary

The panel discusses Micron's blockbuster earnings and its implications for the AI trade. Josh Brown argues the AI capex theme favors infrastructure industrial stocks over hyperscalers like Meta and Microsoft. Stephanie Link highlights data center build-out beneficiaries GE Vernova, Quanta Services, and Vertiv. Joe Terranova and Jim Lebenthal both endorse Micron, with differing theses: a secular paradigm shift versus a cyclical value opportunity with rising earnings and a low forward P/E.

  • Micron Technology surges to new highs after blockbuster earnings.
  • Josh Brown highlights AI infrastructure industrial stocks (Corning, Flex, Applied Materials, Teradyne, Caterpillar, Western Digital, DRAM ETF) as the real AI winners, while hyperscalers like Meta and Microsoft are net detractors.
  • Stephanie Link recommends Quanta Services, Vertiv, and GE Vernova as long-term data center build-out beneficiaries with record backlogs.
  • Joe Terranova calls Micron a paradigm shift, an irreplaceable resource, and suggests a scale-in buying strategy on pullbacks.
  • Jim Lebenthal buys Micron, viewing it as a cyclical value play with rising earnings and a forward P/E around 7x.
  • Panel debates whether the memory cycle can sustain and the risk of supply eventually catching up.
Ideas
Josh Brown CEO, Ritholtz Wealth Management 1:06
Own AI infrastructure industrial stocks.
The AI capex theme is dominating this year, but the hyperscalers are the spenders and are not getting the benefit; instead, AI infrastructure and industrial companies are the real winners. Specific stocks moving include Corning, Flex, Applied Materials, Teradyne, Caterpillar, Western Digital, and the DRAM ETF is up 9%.
GLW FLEX AMAT CAT DRAM ETF TER WDC HIGH
Josh Brown CEO, Ritholtz Wealth Management 1:47
Avoid hyperscalers Meta and Microsoft.
The Magnificent 7 as a group are dragging down S&P 500 returns year to date, and the hyperscalers (especially Meta and Microsoft) are net detractors because they are footing the bill for AI capex without getting the benefit from shareholders.
MSFT META HIGH
Stephanie Link Chief Investment Strategist, Hightower 2:59
Own GE Vernova, Quanta, Vertiv.
The AI data center build-out will continue for years, with hyperscalers spending massively; industrial companies that build out data centers have never-larger backlogs and expanding total addressable markets. GE Vernova, Quanta Services and Vertiv are long-term winners in this space.
GEV PWR VRT HIGH
Joe Terranova Senior Managing Director, Virtus Investment Partners 6:14
Buy Micron, secular irreplaceable resource.
Micron's earnings represent a paradigm shift: it is no longer a purely cyclical commodity but an irreplaceable resource for AI, where price elasticity is absent and strategic customer agreements secure revenue far into the future. Use a scale-in buying strategy on pullbacks, buying 25% now and orders at lower levels.
MU HIGH
Up Next
4:16
Fed's Goolsbee: Inflation has been more disturbing on the services side
CNBC · Jun 25
4:45
Cboe CEO Craig Donohue on derivatives: Allowing investors to protect and hedge their investments
CNBC · Jun 25
3:48
Here's why Goldman Sachs cut its oil price forecasts
CNBC · Jun 25
1:29:15
Apple Prices Climb and the AI Trade Roars Back | Open Interest 6/25/2026
Bloomberg Markets · Jun 25
2:34
Fans Sit at Center of World Cup | Sports City
Bloomberg Markets · Jun 25

This CNBC video, published June 25, 2026, features Josh Brown, Stephanie Link, Joe Terranova discussing GLW, FLEX, AMAT, CAT, DRAM ETF, TER, WDC, MSFT, META, GEV, PWR, VRT, MU. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Josh Brown, Stephanie Link, Joe Terranova  · Tickers: GLW, FLEX, AMAT, CAT, DRAM ETF, TER, WDC, MSFT, META, GEV, PWR, VRT, MU