Micron Poised for Growth as AI Fuels Chip Demand
• Micron is poised for growth as AI fuels demand for its memory and storage chips, including its new HBM3E chip made for AI workloads.
• Micron sees a major shift coming as AI moves from data centers to edge devices like computers and cars, requiring more advanced chips.
• After a downturn, Micron’s latest results show signs of recovery, especially in data center demand. Revenue and earnings are expected to improve.
• At a forward P/S ratio of 4.7, Micron stock looks attractively priced for a company projected to see 30%+ revenue growth over the next 2 years.
• Micron believes it’s at the start of a multi-year upswing driven by AI, presenting a potential buying opportunity for investors.