Quilter Cheviot strategist Ben Barringer said Micron Technology's very strong results suggest the traditionally cyclical memory-chip market is becoming more reliable. Results confirm demand still outstrips supply. Crucially, Micron's shift to long-term customer contracts is providing steadier earnings and reducing exposure to sharp demand swings; the deals effectively set price floors and ceilings and include take-or-pay commitments, smoothing a historically volatile market.