As of right now, with the numbers they have, that's not convincing.
$Micron Technology(MU)$ right now is monetizing off AI memory bottleneck through DRAM, NAND, HBM.
$Everspin Technologies Inc(MRAM)$ does not tackle that market. What $MRAM does is magneto resistive RAM or persistent memory.
And that is not going to be replacing DRAM anytime soon so this is more of a niche/specialized memory technology for now. However, as a momentum trade off the AI memory cycle boom, we could see a re-rate off a valuation gap since this is only sitting at $632M market cap for now.
For now, $27.00 will be your pivot area. $40.00+ to open up. Until we see further progress and consistency over here, treat this as it is: "a tiny speculative asymmetric memory play piggybacking off the AI memory cycle."
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