NVDA - Is It Too Late to Buy Micron Stock?
2024-06-20 07:51:00 ET
Memory-chip maker Micron Technology (NASDAQ: MU) is on a roll. The stock has delivered a total return of 130% over the last year, including a 64% surge in three months.
It feels funny talking about how big a company named after a tiny measurement might get, but that's the question on every Micron investor's mind. Is the stock still primed for further gains or is it more likely to run into a glass ceiling and back down again?
Micron benefits from a couple of robust market trends. The computer systems that create, train, and operate high-powered artificial intelligence (AI) tools require a metric truckload of memory. One Nvidia (NASDAQ: NVDA) V100 AI accelerator card comes with 32 gigabytes of high-speed memory, for example, and a single AI server can use thousands of these cards.
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Is It Too Late to Buy Micron Stock?