CNBC Investing Club Buys Micron After 240% Rally on AI Memory Demand

3 articles · Updated · CNBC · Aug 21

Micron is the only AI memory-and-storage name the Club owns, with the buy tied to its growing importance in DRAM and high-bandwidth memory used to train and run AI models.
AI data-center spending has pushed memory demand beyond supply, giving producers pricing power; Micron CEO Sanjay Mehrotra said customers currently want about 50% more supply than the company can commit.
Micron shares are still up about 240% this year and roughly 920% since early 2025, even after the group pulled back 20% to 40% from late-June peaks.
The Club argues Micron stands out from Sandisk, Seagate and Western Digital because HBM is becoming less commodity-like, while 16 strategic customer agreements announced in June could make earnings more durable.
That thesis rests on AI infrastructure needing a mix of DRAM, NAND and hard drives, but analysts see Micron's HBM exposure as giving it the strongest edge as memory becomes central to computing.