Micron Expands AI PC Memory Portfolio: Is it a New Growth Engine?

Micron Technology (MU) recently launched its new Crucial LPCAMM2 memory for laptops. The new module runs at speeds of up to 8,533 megatransfers per second (MT/s), while offering up to 64GB capacity. It is based on Micron’s LPDDR5X technology and is faster, smaller, and uses less power than the company's regular DDR5 laptop memory. The memory is also upgradeable, which allows its users to easily replace or expand it, instead of buying a new device.

Micron’s new LPCAMM2 memory is made for AI-ready laptops and workstations that need to handle heavy workloads, such as AI tasks, simulations, and multitasking. Moreover, Micron worked with major PC makers like Lenovo and Dell to ensure that the new modules fit into upcoming laptop designs.

On its fourth-quarter fiscal 2025 earnings call, Micron stated that AI PCs are becoming an important part of its growth plan. It expects PC shipments to rise in 2025 as users move to AI-enabled systems and older Windows 10 devices are replaced. The company also reported strong demand for its LPDDR5 memory in servers, showing that the same technology is gaining traction in both data centers and PCs.

With LPCAMM2, Micron is bringing its AI memory technology from servers to personal computers. Micron’s new memory products could open another steady revenue stream outside of high-bandwidth memory and DRAM, while also supporting top-line growth. The Zacks Consensus Estimate for MU’s total revenues in fiscal 2026 is estimated to grow 42.4% to $53.22 billion.

How Competitors Fare Against Micron

Western Digital (WDC) and Intel (INTC) are also moving to grow in areas linked to Micron’s new LPCAMM2 memory launch. Both companies are focusing on the rising demand for faster and more efficient hardware in AI PCs and related systems.

Western Digital is improving its storage products for AI workloads. In August 2025, it tested its OpenFlex Data24 NVMe-oF platform using MLPerf benchmarks, showing better speed and performance for AI data processing. Moreover, Western Digital is also focused on improving its new SSDs to support AI data handling, while providing its customers with better storage flexibility.

Intel is also focused on advancing AI PCs through its Core Ultra processors, which include built-in neural processing units to run AI tasks directly on laptops. Moreover, Intel is also working with NVIDIA to develop new systems that combine Intel's CPUs and NVIDIA's GPUs to enable better AI performance.

Micron’s Price Performance, Valuation and Estimates

Shares of Micron have rallied 121.7% year to date compared with the Zacks Computer – Integrated Systems industry’s growth of 64.2%.

MU YTD Price Performance

From a valuation standpoint, MU trades at a forward price-to-sales ratio of 3.82, lower than the industry’s average of 4.4.

MU Forward 12-Month P/S Ratio

The Zacks Consensus Estimate for Micron Technology’s fiscal 2026 and 2027 earnings implies a year-over-year increase of 100% and 12%, respectively. The Zacks Consensus Estimate for fiscal 2026 and 2027 has been revised upward in the past 30 days.

Micron currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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