Micron and Western Digital: A Decade of Volatility and AI-Driven Growth

Micron Technology and Western Digital have spent a decade navigating the volatile cycles of memory and storage. Micron has transformed into a critical gatekeeper for AI infrastructure with high-bandwidth memory and 56% gross margins, while Western Digital's recent path has been cleaner with a 27x forward P/E. A $1,000 investment in Micron in 2016 would be worth $29,919 today, nearly 10x the S&P 500's return.