Micron Takes Center Stage as AI Infrastructure Stock
Micron Technology might be the most important AI infrastructure stock in September, despite Nvidia and Palantir already reporting their earnings. These two companies delivered monster results, but Micron is critical to the hardware and software layers of the artificial intelligence stack.
Memory is a key component in both layers, and Micron is one of only three companies that can deliver high-bandwidth memory at scale. Nvidia has signaled the cycle is running in its favor, with data center sales reaching $89 billion, up 117% year over year.
Palantir's Artificial Intelligence Platform (AIP) is not a pilot project anymore, with Fortune 500 companies embedding Palantir's platforms into their daily operations. Micron reports its fiscal 2026 fourth-quarter results on September 30, and the consensus estimates among Wall Street analysts are that it will report $50.8 billion in revenue and about $31.28 in earnings per share (EPS).
Micron's valuation story is a curiosity, with the stock trading more like a cyclical industrial stock as opposed to a company positioned in the middle of a multiyear infrastructure boom.