Why Wall Street thinks US memory maker Micron is the next Nvidia
Eager to find more public AI-related companies that may do as well as Nvidia, Wall Street investors think they've found a winner with Micron.
Micron, a U.S. memory chip maker, has become a Wall Street favorite due to the AI-driven shortage of memory chips needed for data centers, which has driven its stock up over 236 percent in one month and briefly made it more valuable than Meta and Tesla. The company benefits from the building of AI infrastructure, where system makers and tech giants like Microsoft, Amazon, and Google are purchasing large quantities of memory chips, particularly High-Bandwidth Memory, creating what has been termed RAMageddon. Micron reported blockbuster earnings with revenue quadrupling year-over-year and profits skyrocketing, along with a positive outlook for future quarters. Analysts believe the company may sustain long-term growth through long-term supply agreements with major customers, though the traditional challenge for memory makers is that demand often drops once manufacturing capacity increases, creating price declines.
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