Micron Stock Hits Record High as Booming AI Chip Demand Fuels Growth

Micron Technology (MU) produces memory and storage chips used in AI and data centers, and its stock just hit an all-time high as demand soars
Micron is seeing rapidly growing demand for its chips used in AI applications, both in data centers and in edge devices like PCs, mobile phones, etc.
Micron returned to strong revenue growth and profitability last quarter after a downturn, and expects continued high growth ahead
Despite trading at a record high, Micron stock has a low valuation with a price-to-sales ratio of just 6.7
Micron is ramping up innovation, like a new 12-high HBM3E data center chip that increases memory capacity by 50%, to meet fast-rising AI demand