Why Micron Stock Keeps Going Up - The Motley Fool

Micron Technology's stock continues to rise, driven not only by strong financial performance but also by the cyclical dynamics of the semiconductor industry. The company reported a 196% surge in sales... Read original →

Micron’s rally stems from a structural shift: AI infrastructure is forcing memory into the compute stack, with HBM3/4 demand redefining DRAM architecture and straining TSMC’s CoWoS capacity. U.S. CHIPS Act subsidies offer short-term relief, but export controls inflate compliance costs in China—a critical market for both manufacturing and sales. SK Hynix and Samsung are racing to scale HBM4; if Micron fails to secure exclusive supply deals for NVIDIA’s Blackwell Ultra by 2025, its pricing power will erode fast. Even within this 'supercycle,' server capex moderation and inventory rebuilding will likely trigger a price inflection by late 2026. Gross margins above 75% are unsustainable—investors should brace for a sharp valuation correction as cyclical realities reassert.