Here's Why I Will Never Pay Anywhere Near $1,100 for Micron Stock - Yahoo Finance

Micron Technology's stock has surged over 800% in the past year, driven by strong demand for its high-bandwidth memory (HBM) in data centers and AI hardware. HBM plays a critical role in accelerating ... Read original →

Micron’s 800% stock surge reflects AI-driven HBM euphoria, but structural vulnerabilities loom. Technically, while its HBM4 delivers 60% higher capacity for NVIDIA’s Vera Rubin GPUs, yield constraints in TSV and hybrid bonding delay volume ramp. Regulatory pressures—especially U.S. export controls—force costly realignments of Micron’s China operations, while domestic HBM players in Taiwan, China and mainland China accelerate client certifications, eroding pricing power. Competitively, Samsung has already mass-produced HBM4, and SK Hynix deepens co-design ties with NVIDIA; Micron risks marginalization in premium AI memory if it fails to lock in ecosystem advantages by 2027. Over the next 12–24 months, slowing AI capex will expose inventory overhangs, and demand from PCs, autos, and humanoid robots remains too fragmented to offset cyclical swings. Without sustained tech leadership, today’s valuation is unsustainable.