Micron Technology (MU) perpetual market

Micron Technology is one of the world's largest makers of memory chips, a critical and highly cyclical corner of the semiconductor industry. It produces both DRAM, the fast working memory used in computers, phones and servers, and NAND flash, the storage used in solid-state drives and devices. Micron is one of only a few companies with the scale and technology to compete in advanced memory, alongside South Korea's Samsung and SK Hynix, and it is the leading US-based memory manufacturer. Memory is largely a commodity, so Micron's profits swing sharply with supply-and-demand cycles that push prices up during shortages and down during gluts, making its earnings notably volatile. Demand for high-bandwidth memory used in artificial intelligence accelerators has become an important growth driver, tying part of Micron's outlook to the AI buildout. It is a closely watched proxy for the health of the memory market.