Could This AI Stock Surge 319% in 3 Years?

Micron Technology's (NASDAQ: MU) stock has surged 319% over the past three years, as of Nov. 18. Most of that massive total return was fueled by its brisk sales of memory chips to artificial intelligence (AI) system builders.Micron's performance can't compare to Nvidia's of course. Nvidia quickly emerged as the place to go for your high-end AI training hardware needs while Micron is one part of a global trio of dominators. South Korean tech giants Samsung (OTC: SSNL.F) and SK Hynix are dueling for first place in key product categories, while Micron quietly builds its third-place market share. Meanwhile, the memory-chip market itself is skyrocketing because of explosive demand for AI-specific memory installations.The stock price has skyrocketed in recent months, sparking new life in a formerly stalled long-term growth chart. At this point, Micron investors have pocketed a total return of 319% in three years, capturing the impact of the ongoing AI boom. Can the memory maker keep this momentum going with another quadrupling of its share price in the next three years?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool