BREAKINGVIEWS-Micron at $1 trln lacks memory of boom-bust past

Micron Technology

Micron Technology

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Robert Cyran

NEW YORK, May 26 (Reuters Breakingviews) - The chipmaker is on an AI rocket ride, as demand outruns inflexible supply. Good times can’t last forever, so savvy investors usually award a lower valuation as a multiple of heady earnings to companies with frequent peaks and dips. Now, though, the gauge still reads a bit hot.

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CONTEXT NEWS

Micron Technology’s market capitalization surpassed $1 trillion intraday on May 26. The memory-chip maker’s stock has risen nearly seven-fold over two years, and is up 177% since the start of the year.


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