Company Overview - Micron Technology designs and produces memory hardware essential for various computer systems, including data center servers [3] - The company specializes in dynamic random access memory (DRAM), random access memory (RAM), and high bandwidth memory (HBM) products, which are critical for AI applications [6] Market Demand and Performance - Current demand for RAM chips exceeds supply by 10%, with DRAM prices having increased by 50% over the last quarter and expected to rise by another 40% in the current quarter [5] - In fiscal Q1 2026, Micron's revenue grew by 56% year over year to $13.6 billion, while net income surged 178% to $5.2 billion, and operating cash flow increased by 159.5% to $8.41 billion [7][8] - The company has achieved a net income margin of 28.2% over the past four quarters, with cash reserves of $9.7 billion available for operational expansion [8] Investment Opportunity - Micron Technology is viewed as a bargain in the AI infrastructure sector, trading at a low price-to-earnings (P/E) ratio compared to other AI hardware stocks, despite the overall high valuations in the AI market [2][7]