Is the Memory Supercycle Already Priced In? What the Data Says About Micron Stock.
Micron Technology's stock has risen 585% in the past 12 months due to a memory shortage driven by AI demand, with a PEG ratio of 0.46 indicating potential underpricing. The company is building memory chips for Nvidia's Vera Rubin platform and has announced a new $100 billion factory in New York.
Micron Technology is a leading memory chip manufacturer, dominating the market alongside Samsung and SK Hynix. The company is supplying memory chips for Nvidia's Vera Rubin platform and has broken ground on a new $100 billion factory in New York. Micron's revenue surged 19% to $23.9 billion in its fiscal Q2 2026, ended February 26. The memory shortage, expected to last until 2030, has driven Micron's stock up 585% in the past 12 months. With a PEG ratio of 0.46, the stock may be underpriced. Micron exited the consumer PC memory market to focus on AI data center demands.
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