Micron Faces Earnings Test After Share Price Doubled Since April

Investors looking for new ways to bet on artificial intelligence infrastructure have been piling into an old but often overlooked name: Micron Technology Inc.

The maker of memory chips, which reports earnings after market close on Wednesday, has seen its shares roughly double since the S&P 500 bottomed in April, and is the index’s fifth-best performer over that span. Spending on AI computing gear has sent investors hunting for beneficiaries beyond marquee stocks like Nvidia Corp.