Micron’s AI-fueled Demand Could Keep Its Stock Climbing, Says Top Investor
TL;DR Summary
Micron Technology is benefiting from surging AI-related memory demand, guiding for about $33.5 billion in quarterly revenue with an ~81% gross margin as demand outpaces supply. Top investor Keithen Drury is bullish, noting Micron has only two-thirds of demand covered by current capacity and that data-center memory demand could grow from $35 billion in 2025 to $100 billion by 2028, suggesting the shortage may persist for years. The stock enjoys a strong buy consensus on Wall Street, though 12-month targets still trail the current price.
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