While frontline semiconductor companies like Nvidia Corp (NASDAQ:NVDA) have garnered most of the spotlight when it comes to artificial intelligence, infrastructure players like Micron Technology Inc (NASDAQ:MU) deserve attention. Primarily, Micron specializes in high bandwidth memory (HBM) chips, which undergird AI-related functionalities. This arena has enjoyed significant growth, helping MU stock jump to over 38% on a year-to-date basis.
However, enthusiasm in the market never follows a perfectly linear trajectory indefinitely. Case in point was what happened to MU stock and other semiconductor assets earlier this month. After another strong run, investors decided to take some profits off the table. Fundamentally, this protective action made sense as geopolitical tensions between the U.S. and China — especially as related to tariffs — dominated headlines.
