Micron Technology: From Once-Cyclical Troubled Child to AI Infrastructure Giant

Micron Technology has transformed from a cyclical chip manufacturer to an essential infrastructure provider, with its high-efficiency High-Bandwidth Memory (HBM) serving as the crucial interface for modern AI accelerators. The company generates its billions in revenue through direct sales of DRAM memory and NAND flash storage to tech giants, data centers, as well as the smartphone and automotive industries. While the long-term sold-out HBM capacities and the growing memory demand per device ensure historic growth, the biggest risk remains...