300GB HBM Demand Helps Fuel 185% Six-Month Micron Rally
Micron shares have soared 185% over the past six months and trade at 7x P/E with 82% EPS growth and a 0.09 PEG. Nvidia’s Rubin GPUs now demand 300GB of HBM per chip—nearly four times the H100’s 80GB—exhausting Micron’s high-bandwidth memory supply through 2026, boosting DRAM pricing power.
1. Stock Performance and Valuation
Micron shares have climbed 185% over the past six months and over quadrupled in a year, trading at 7x forward P/E with 82% annual EPS growth and a 0.09 PEG ratio—reflecting deep discounts relative to peers.
2. AI Memory Demand Surge
Advances in large language models and inference engines are driving exponential growth in DRAM and HBM requirements, transforming memory into a strategic bottleneck for data centers and AI infrastructure.
3. Rubin’s 300GB HBM Requirement
Nvidia’s next-generation Rubin GPUs require approximately 300GB of on-package high-bandwidth memory per chip—nearly four times the 80GB demanded by the H100—creating unprecedented DRAM consumption at hyperscale data centers.
4. Supply Constraints and Pricing Power
High-bandwidth memory supply is already sold out through 2026, positioning Micron to capture sustained volume growth and elevated pricing power amid tight market conditions.