Micron Targets $100B Earnings Amid AI Boom

AI-driven demand propels memory-chip makers, with Micron projected to earn just under $100 billion in the next 12 months.
Micron plans $150 billion capex expansion across U.S. sites and South Korea, while Cerebras raises $5.55 billion in IPO, shares doubling.
Analysts upgrade S&P 500 earnings outlook as high‑bandwidth memory prices surge, but historic cycles warn of excess supply and profit drops.
Micron trades under 10× forward earnings, third‑cheapest in the S&P 500, yet forward P/E peaked at nine before the 2022 slump.