Shares of Micron Technology (MU) have been on an extraordinary run, rising about 800% over the past year. Micron’s explosive rally has been driven by soaring artificial intelligence (AI)-led demand for its high-bandwidth memory (HBM) chips and data-center storage products.
Moreover, an industry-wide supply shortage has strengthened memory pricing and boosted profitability. Those powerful tailwinds have helped transform MU into one of the market's top-performing stocks.