Is Micron Stock the New Nvidia?

Micron Technology has emerged as a major AI beneficiary, providing essential memory and storage products for AI systems. With revenue quadrupling to over $41 billion and net income reaching $28 billion in the latest quarter, Micron's stock has surged over 800% in the past year. While the company faces competition from SK Hynix in AI memory, strong demand exceeding supply and high gross margins (84%) position Micron similarly to Nvidia's growth trajectory, though with potentially more risk.