As technology companies race to build data centers, demand for the memory chips that make artificial intelligence (AI) computing possible has skyrocketed. One of the leading manufacturers of memory chips for AI hyperscalers is Micron Technology (NASDAQ: MU). So far this year, Micron stock has soared 225% -- making it the third-highest performer in the Nasdaq-100. Nevertheless, Micron's shares have experienced considerable volatility over the last couple of months and trade about 24% below their all-time high. I think this disconnect is about to reverse. On Oct. 28 and 29, Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) and Amazon (NASDAQ: AMZN) are scheduled to report quarterly earnings. While investors will undoubtedly focus on their respective AI-related capital expenditures (capex), I think another topic could emerge as a major discussion point: the global memory shortage. If my prediction is accurate, Micron could begin to rally just in time for Halloween.
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