Micron (MU +4.51%) has lost more than 20% of its value in less than two weeks amid a broader correction among AI stocks. Most investors have been conditioned to expect these sorts of stocks to keep rising steadily, especially as tech giants continue to ramp up their AI infrastructure spending.

The fundamentals of its business suggest Micron’s stock rally should continue, so when its price movements defy expectations, it creates buying opportunities for long-term investors.

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Micron’s combination of valuation and revenue growth is rare

Micron may be in a class of its own when it comes to valuation and revenue growth. 

In its fiscal 2026 third quarter, which ended May 28, the company more than quadrupled its…