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For decades, memory stocks traded like weather.
Prices rose. Producers added capacity. Supply caught up. Prices crashed. Investors learned the rhythm: buy the shortage, sell the expansion, and never forget that the next bust was waiting somewhere down the road.
Micron’s (MU) latest quarter suggests that rhythm may be changing.
The headline numbers were excellent. Revenue surged, margins hit records, and guidance jumped again. But the real story was not just the earnings report.
