Micron, a lesson in growth investing
Micron's (MU) is up roughly 650% over the last year, to $920. The question this raises is not "has the market overreacted to a threat?" but "has the market correctly priced in an opportunity, or is this a bubble?"
What is Micron?
Micron is one of only three companies in the world that manufacture at scale, the fast, temporary working memory used in virtually every device that computes or stores data. It is also one of a slightly larger group, alongside Samsung, SK Hynix, and Kioxia, that produce , the permanent storage memory found in the same devices. PCs, phones, cars, cloud servers, and especially the servers that run artificial intelligence all need memory chips like Micron's, and there is no cheap substitute for them.
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