Micron Just Crossed $1,000 a Share. Here's the Math on Where It Goes Next. - The Globe and Mail

Micron Technology's stock recently surpassed $1,000, entering the trillion-dollar market cap club, driven by the transformative impact of artificial intelligence (AI) on the semiconductor industry. Th... Read original →

Micron’s $1,000 share price reflects structural AI-driven demand for HBM and DRAM, not speculation. Technologically, 3nm adoption and EUV scaling are forcing memory bandwidth upgrades—HBM4 will soon be mandatory for AI training, and Micron’s yield leadership in 1β DRAM secures its position in critical supply chains. Geopolitically, while U.S. CHIPS Act subsidies ease capex pressure, reliance on foundries in Taiwan, China and Korea introduces compliance risk; any escalation in U.S.-China tech controls could compel hyperscalers to diversify suppliers. Facing Samsung and SK Hynix’s aggressive HBM3E ramp, Micron must lock in long-term deals with NVIDIA and Broadcom to preserve pricing power. Over the next 12–24 months, even if spot-market oversupply emerges, sustained demand from AI inference for power-efficient, high-density memory will create a valuation floor, justifying a forward P/E expansion toward 15x.