**Micron Technology’s CEO, Sanjay Mehrotra, announced a significant growth opportunity in humanoid robotics, expecting a “sustained, substantial, multi-decade” demand for memory chips.** Following Micron’s strong Q3 earnings report, he emphasized that humanoid robots typically require ten times the memory of advanced autonomous vehicles, projecting a new demand cycle to begin in the latter part of this decade.
**Bank of America forecasts that the global humanoid robot population could reach 300 million by 2040 and 3 billion by 2060.** This projection suggests that humanoids could outnumber cars, highlighting the potential for a massive market shift. This emerging technology may help Micron transition away from its historically cyclical nature, with current valuations remaining around nine times forward earnings despite recent performance.
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