Shares of Micron and Sandisk jumped after Melius Research said in a report that demand for memory will remain strong through the end of the decade.
In this article
Shares of memory companies Micron and Sandisk jumped on Monday, continuing their extended runs, after Melius Research said demand could remain high through the end of the decade.
Memory companies are experiencing major gains from a global shortage for microchips to power artificial intelligence. High Bandwidth Memory, or HBM, is bonded directly to the most advanced graphics processing units from Nvidia
and Advanced Micro Devices
that power nearly all major AI data centers.
Shares of Micron have skyrocketed 370% over the past year, while Sandisk is up more than 1100%.
Micron said it expects the total addressable market for high-bandwidth memory to hit $100 billion by 2028.
As generative AI models get more sophisticated, companies need more memory and faster memory, Micron CEO Sanjay Mehrotra said in…
Micron's stock has soared this year while its tech peers have struggled, as the impact of rising memory costs ripples across the…
Micron is among the "most hyped stocks on social media" as retail enthusiasm simmers
"We need more and more memory to address that demand," Micron CEO Sanjay Mehrotra told CNBC's Jim Cramer.
