Micron Technology ($MU) is experiencing a massive rally, driven by surging demand for memory chips essential to AI servers and data centers, leading the company to announce a significant strategic shift toward high-growth enterprise customers.
- The stock is trading strongly at $433.00, reflecting a massive 350% gain over the last 52 weeks and a 31% advance year-to-date.
- Micron plans a substantial $24 billion investment in advanced memory manufacturing in Singapore and is winding down its lower-margin Crucial consumer brand to focus exclusively on enterprise and AI customers.
- The company is in its strongest financial position in any comparable upcycle, reporting $37.4 billion in recent fiscal year revenues and maintaining mid-40% gross margins.