When Logic Replaces the Gambling in the Stock Market
Micron: AI Boom Breaks the Old Chip Cycle Pattern
End of the Cycle: Micron at a New Valuation Level
Reading Time: 2 minutes
Market reactions to quarterly earnings often resemble a game of chance, characterized by nervous short-term reflexes and vague whisper estimates. However, for Micron, the recent jump in share price was more akin to the outcome of a logical equation, the variables of which have long been known. One simply had to piece together the puzzle of the major DRAM and HBM customers: As AI data centers draw enormous capacities from the entire market, the supply of High-Bandwidth Memory (HBM) – the extremely fast memory located right next to AI accelerators...
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