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Micron has increased by 800%, with a forward PE of only 10 times.
It appears to be the cheapest AI stock in the market.
But if you think you can chase it just because of this number,
you might be walking into one of the most classic traps in the history of memory chips.
Memory chips are the king of cyclical stocks. They don't rely on technological barriers to earn monopoly profits like Nvidia;
their core driving force is supply and demand mismatch.
MU