Despite Rising More Than 300% in 1 Year, Micron Stock Looks Cheap. But Is It a Buy?

Micron reported fiscal second-quarter revenue up 196% year over year, driven by seemingly insatiable demand for AI hardware. The magnitude suggests materially stronger memory demand and positive earnings/margin tailwinds for Micron and could lift peer semiconductors tied to AI infrastructure spending.

Analysis

Micron reported fiscal second-quarter revenue up 196% year over year, driven by seemingly insatiable demand for AI hardware. The magnitude suggests materially stronger memory demand and positive earnings/margin tailwinds for Micron and could lift peer semiconductors tied to AI infrastructure spending.