Wednesday, September 27, 2017 11:28:43 AM
Apple should consider:
1. Placing a pre paid deposit with Micron to assure its "place in line" for memory on allocation. This happened about 10 years ago and again about three years ago. The identity of the customer placing the $248 million deposit was never confirmed, but it had to be Apple. See page 11 of the Micron q1 10Q from 2014: here Part of the purchase consideration when Micron "bought" memory fabs from Intel was a pre paid deposit for $300mm of production.
2. Apple should use some of its hoard of offshore cash to build a fab dedicated to its memory needs. Micron would run it and Apple would have first dibs on the output. Apple could dictate the size and form of memory chips which might be more to its liking.
3. Apple should invest in, or acquire, Micron. Should they choose to invest, they might acquire the remaining ~4% of Micron's stock still held by Nanya which got these shares as part of Micron's acquisition of Inotera. Should they choose to acquire, they would find the deal immediately accretive if they used their 17x PE stock to acquire Micron at its paltry <5x forward PE. Cash also would be a fine acquisition currency and Apple has plenty of that, if not all in the correct domiciles. Perhaps Tim Cook's friend Donald Trump would put in a repatriation tax deduction for Apple to bring home some cash and do this deal?
http://tinyurl.com/yahsb6pe
Dream on ...
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