Micron’s share price has soared ninefold from its trough, outpacing most peers in the memory-chip segment. This rapid advance has propelled the company to multiyear highs and boosted investor sentiment across the sector.

Previous memory-chip rallies of similar scale have frequently been followed by significant corrections, underscoring the industry’s volatility. Applied Materials, as a leading semiconductor-equipment provider, could see comparable swings if market conditions reverse.