Micron's Massive Gains: Why The Upside Isn't Over Yet

Micron Technology remains a compelling buy, with significant upside potential driven by AI tailwinds and a memory cycle upturn. Most traditional valuation metrics are flawed for MU due to its cyclical, commodity nature; forward EV/EBITDA and EV/EBIT provide more reliable benchmarks. Management expects its HBM4E chip to help it catch up to SK hynix and Samsung in HBM chip market share.