Why Micron Stock Exploded 40% Higher in September
Even before 's (NASDAQ: MU) earnings report on Sept. 23, shares of the memory chip manufacturer had already logged an impressive month-to-date gain. Strong results and guidance ultimately led the stock even higher to close out September. Micron stock gained 40.6% last month, according to data provided by S&P Global Market Intelligence, largely thanks to booming demand for artificial intelligence data centers.
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Two things related to AI are happening within the memory chip market. First, demand for high-bandwidth memory, a special type of dynamic random-access memory critical for AI accelerators, is exploding. Mega-deals involving OpenAI, , Nvidia, and other tech giants to build massive AI data centers will require equally massive quantities of HBM chips.
Source Fool.com
Micron Technology Inc. Stock
With 92 Buy predictions and not a single Sell prediction Micron Technology Inc. is an absolute favorite of our community.
With a current price of 167.46 € Micron Technology Inc. is right around the predicted target price of 169 €.
