Will Memory Giants Micron, Sandisk, and SK Hynix Continue to Soar? History Is Strikingly Clear About What Happens Next.
Micron and Sandisk have climbed in the triple and quadruple digits, respectively, over the past year.
Overview
Artificial intelligence (AI) needs compute in order to develop and be put to use, and this has powered the share prices of chip designers from Nvidia to Advanced Micro Devices. They make the logic chips, such as graphics processing units (GPUs) and central processing units (CPUs), that fuel key AI tasks.
But logic chips aren't the only crucial ingredient in the AI story. Along with these, AI also requires memory and storage, elements provided by companies including Micron Technology (NASDAQ: MU), SK Hynix, and Sandisk (NASDAQ: SNDK). In fact, as AI platforms are now applied to real-world problems, the need for memory has become greater than ever.
Details
All of this has buoyed the stock prices of these memory market leaders. Micron and Sandisk have soared nearly 700% and almost 4,000%, respectively, over the past year. And SK Hynix of South Korea just splashed onto the U.S. market, debuting on the Nasdaq on July 10. In their first day of trading, the American depositary receipts (ADRs) jumped 13%.
Source
Originally published at www.fool.com.