Is Micron Starting an Nvidia-Style Run?
Micron Technology's stock surged due to high demand for memory in data centers, with revenue guidance of $33.5 billion for the current quarter. The growth of AI and robotics may drive long-term demand for Micron's products.
Micron Technology's stock price has risen over 553% in the past year due to surging demand for memory in data centers. The company's revenue guidance for the current quarter is $33.5 billion, nearly equal to its total revenue in the prior fiscal year. This growth is similar to Nvidia's experience during the data center boom. Micron's CEO believes the company is at the start of a long-term growth cycle driven by AI and robotics. The growth of physical AI products like humanoid robots may change industry dynamics and drive further demand for Micron's memory products. Morgan Stanley analysts forecast the installed base of robots could reach nearly 1 billion by 2050, potentially creating a huge market for Micron.
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