Will Micron Technology Stock Soar to $1,500 After Sept. 30?

Micron Technology (NASDAQ: MU) is one of the world's top suppliers of high-bandwidth memory (HBM) for data centers, which is a critical part of the artificial intelligence (AI) hardware stack. There is a global shortage of memory right now, so the company can dictate prices, which has been fantastic for its financial results. But Micron stock closed at $977.41 on Thursday, Sept. 10, a 19% discount to its June all-time high. Investors are increasingly concerned about the sustainability of the data center spending boom because costs are rising so fast that many large organizations are limiting their AI usage to prevent budget blowouts. Missed Nvidia in 2009? This Rare Signal Is Flashing Again.