Micron's AI moment: Can earnings sustain the historic rally?

Micron Technology is set to report quarterly earnings viewed as a key test of whether AI-driven demand for high-bandwidth memory (HBM) can sustain the stock's record rally. Analysts expect record revenue and strong HBM sales, but the focus will be on management's forward guidance given the stock already prices in significant optimism. Risks include potential moderation in AI spending, rising industry capacity, and the stock's premium valuation leaving little room for disappointment.