Wall Street Tech Analyst: Micron Could 4x If the AI Cycle Lasts Through 2030 - 24/7 Wall St.

Wall Street analyst Gil Luria recently highlighted a contradiction in market assumptions about the AI cycle, which is significantly impacting chip and software valuations. He emphasized that if AI inf... Read original →

The market’s split view on AI cycle duration reveals a fundamental mispricing in semiconductor valuations. Memory chips—especially HBM4/HBM4E migrating to 3nm EUV—are the true bottleneck in AI infrastructure, with higher technical barriers and less competition than CPU-centric approaches. Micron’s process leadership positions it ahead of Intel and Cerebras, whose specialized architectures lack scalable software ecosystems. Geopolitically, U.S. CHIPS Act funding and constrained advanced packaging capacity in Taiwan, China bolster Micron’s supply chain resilience. Over the next 12–24 months, sustained multi-billion-dollar AI capex from Microsoft and Google will make memory the earliest beneficiary of infrastructure buildout—yet current valuations price only transient demand, ignoring the long-tail structural shift toward data-centric computing.