Memory chip maker Micron Technology (NASDAQ: MU) has a hot hand right now. Micron's stock is trading near all-time highs, having gained 48% in 2024 and 93% in the last 52 weeks. The current artificial intelligence (AI) boom poured nitro on Micron's growth fires, boosting this stock chart into the stratosphere. Modern AI systems use a ton of memory and solid-state storage. As a leading supplier of those chips, that's good news for Micron and its shareholders.

Longtime shareholders can celebrate some game-changing long-term returns. The stock has more than doubled the S 500 index's gains over the last decade. But would this be a good time to start a new position in Micron?

Let's see how much room there is for further Micron gains at this point.

Continue reading

Source Fool.com