This article first appeared on GuruFocus.
Micron Technology (NASDAQ:MU) shares climbed about 5% Thursday, extending a three-session rebound as investors continued to focus on AI-related memory demand.
The rally comes as Micron remains exposed to strong demand for high-bandwidth memory and data-center storage. The company has said its HBM4 ramp is progressing and that AI workloads are increasing demand across memory products.
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At the same time, Micron faces a developing competitive issue in NAND. Counterpoint Research data showed Yangtze Memory Technologies Co. captured 14% of global NAND shipments in the second quarter, putting it ahead of Micron in unit volume, although its revenue position remained lower because of its product mix.
Micron's next earnings report could provide a fresh test of the AI-driven demand outlook. Market estimates currently point to fiscal fourth-quarter earnings of roughly $31 per share, with the report expected on Sept. 29.
Micron also continues to invest in higher-value memory products as AI infrastructure expands. Its latest company materials point to growing data-center demand and further HBM development heading into 2027.