Why Micron Stock Rocketed 34% Higher in October
Shares of memory chip manufacturer (NASDAQ: MU) soared 33.7% in October, according to data provided by S&P Global Market Intelligence. Soaring prices for dynamic random access memory (DRAM) chips, a result of booming demand for artificial intelligence (AI) infrastructure, was the likely culprit behind Micron's stellar performance.
Image source: Micron.
Top-tier artificial intelligence (AI) accelerators use high-bandwidth memory, or HBM. HBM is a variant of DRAM, and demand for the specialty memory chip is booming. Micron has already signed deals for most of its HBM supply for calendar 2026.
Source Fool.com
Micron Technology Inc. Stock
€760.90
-0.590%
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With a target price of 1293 € there is a hugely positive potential of 69.93% for Micron Technology Inc. compared to the current price of 760.9 €.
