Is Micron Technology Stock Destined to Join the Trillion-Dollar Club This Year? - The Globe and Mail

Micron Technology's stock has surged nearly 700% over the past year, with its market cap approaching $85 billion. Despite this impressive run, the company trades at a relatively modest P/E ratio, espe... Read original →

Micron’s 700% stock surge reflects not just AI-driven memory shortages but systemic fragility in the global supply chain. Technically, rapid HBM3E and GDDR7 adoption is straining TSMC’s CoWoS capacity—favoring NVIDIA while raising packaging costs for smaller AI chipmakers. Compliance-wise, U.S. export controls restrict Micron’s Xi’an operations, forcing costly shifts to Japan and Malaysia. Competitively, Samsung is cutting DRAM capex to support prices, while SK Hynix locks in HBM deals with NVIDIA, tightening the oligopoly. Over the next 12–24 months, any AI server demand slowdown or unexpected output from China’s CXMT could burst the valuation bubble. Despite a sub-8 forward P/E, Micron may be a value trap as the cycle peaks—momentum masks looming cyclicality.