Move Over, Nvidia: 1 AI Stock Just Posted Its Best Day Since 2011 -- and Wall Street Says It's Still Cheap. - AOL.com

Micron Technology surged over 19% in a single trading session on May 31, 2026, marking its largest one-day gain since 2011, and pushed its market cap past $1 trillion, making it one of the top ten mos... Read original →

Micron’s 19% surge reflects structural demand for HBM driven by AI infrastructure, not speculative euphoria. Technologically, HBM3E—and soon HBM4—has become the critical bottleneck in AI accelerators, transforming Micron from a cyclical memory vendor into a foundational AI compute supplier via long-term deals with Nvidia and hyperscalers. However, its revenue spike stems largely from pricing, not volume; with $25B+ in new capacity coming online in 2027–28 alongside SK Hynix expansions, any slowdown in AI capex could trigger a sharp price collapse. Geopolitically, Micron’s dual investments in the U.S. and Taiwan, China hedge against supply chain fragmentation while aligning with CHIPS Act incentives. SK Hynix will likely accelerate HBM4 ramp to reclaim share, while Nvidia may cultivate a second-source strategy. Over the next 12–24 months, the HBM market will compress a classic semiconductor boom-bust cycle into hyperdrive. Micron’s 13x forward P/E appears cheap only if AI demand never cools—a historical impossibility.