Is Micron Technology a Millionaire-Maker Stock?

The generative artificial intelligence (AI) megatrend has allowed many older technology companies to rise from relative obscurity. And with its shares up by a whopping 170% year to date, Micron Technology (NASDAQ: MU) is an excellent example. Like the industry leader Nvidia, it serves the pick-and-shovel side of AI, supplying hardware that other companies will need to create consumer-facing software and services.

Let's dig deeper to see if it still has millionaire-maker potential.

While the AI hardware narrative tends to focus on graphics processing units (GPUs), which do the brunt of the work of running and training large language models (LLMs) like ChatGPT, there are other computer components that make the technology possible. Micron's high-bandwidth memory devices, such as DRAM and NAND flash, play a crucial role.

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Source Fool.com