MU — From Axios This Morning -- March 19, 2026

Locator: 50259MICRON.

From Axios this morning.

3. Micron's moment

Data: Financial Modeling Prep; Chart: Axios Visuals Memory chipmaker Micron's stock is surging this year. Why it matters: It's a sign that the AI boom is still, well, booming — and the market has a new fave stock. Micron makes memory chips essential to AI data centers — and demand is outpacing supply, driving shortages.  The latest: The company's revenue surged to nearly $24 billion in the second quarter, up from $8 billion during the same period last year — nearly tripling — it reported yesterday.  Profits were close to $14 billion. Stunning stat: Micron's stock closed at $461.73 yesterday — up 354% from last year.  Of the 10 most valuable U.S. tech companies, only Micron's stock is up this year, CNBC notes. The intrigue: Until recently Micron's stock price moved roughly in sync with Nvidia's. And Nvidia was the one with both blowout earnings and big stock surges. Now, its stock is down slightly for the month. That's despite posting record sales and earnings in February.  And just this week CEO Jensen Huang said he expects the company to reap "at least" $1 trillion in revenue through 2027. "It's an odd dichotomy," says Abby Yoder, U.S. equities strategist at JPMorgan Private Bank. It's likely "positioning fatigue," she adds. "After an extended period of the same names driving returns, investors are looking for a different angle." The bottom line: The stock market's found a new belle of the AI ball.