AI Boom Comes with a Price Tag, Micron Signals Who Pays

Micron's blowout results highlight AI-driven demand boosting pricing power in memory chips, with MU trading around 9x forward earnings. The company guided to roughly $50 billion in quarterly revenue and about $31 in adjusted EPS for its fiscal Q4, signaling substantial profit upside as AI infrastructure costs ripple through Big Tech, device makers, and cloud users. The central question is who ultimately pays for AI's gains—the end buyers through higher prices and subscriptions, or the broader economy—since if the payoff is delayed or overstated, the AI rally could falter.