By Geoffrey Seiler, The Motley Fool
Publication Date: 2026-03-29 15:50:00
Micron‘s (NASDAQ: MU) stock has been a huge winner over the past year, as the company has benefited greatly from the ongoing supercyles in the DRAM (dynamic random access memory) and NAND (flash) markets. This has led to explosive revenue growth and ballooning gross margins for the company. This was on full display last quarter, when Micron saw its revenue nearly triple and its gross margin more than double to 74.4%.
However, the company announced perhaps even more important news in mid-March when it revealed that its HBM4 36GB 12-Hi memory, designed specifically for Nvidia‘s Vera Rubin platform, was now in mass production. For graphics processing units (GPUs) and other artificial intelligence (AI) chips to perform their best, they need to be packaged with high-bandwidth memory (HBM). This is because HBM sits next to these chips, allowing them to quickly store, retrieve, and transfer data to speed up processing times.
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The move to mass production for the HBM4 is a pivotal moment for Micron. The company has long been considered a technology laggard and more of a fast follower in the memory market compared to Korean companies Samsung and SK Hynix, which were the early leaders in HBM.
However, by…
