Micron Stock Has Soared by More Than 12X. Can It Double Again? - The Motley Fool

Micron Technology has delivered extraordinary returns over the past 18 months, with its stock rising more than 1,200% since early 2025. Despite this massive rally, investors should not assume the easy... Read original →

Micron’s 12x stock surge stems not from vague AI hype but from hard demand for HBM in AI training clusters. This is forcing TSMC to expand CoWoS capacity and accelerating CXL adoption. U.S. export controls shield Micron’s premium pricing short-term but risk triggering aggressive DRAM tech catch-up by China’s CXMT, threatening mid-tier markets within 24 months. With Samsung ramping aggressively and SK Hynix betting everything on HBM3E, Micron must lock in design wins—like custom NVIDIA partnerships—to survive the next downcycle. Crucially, while AI capex will likely sustain >40% HBM growth through 2027, post-2027 memory bandwidth compression from efficient AI models could erode demand unless Micron pioneers GAA-based or near-memory compute architectures. Without that, its valuation won’t hold.