New Delhi, June 24 -- Micron Technology shares fell modestly by 1% to $1,028 apiece in Wednesday's trade ahead of the company's fiscal third-quarter results, which are expected to provide the clearest test yet of whether demand for AI infrastructure remains strong enough to sustain this year's surge.

The company has caught investors' attention amid an explosive rally in its shares, surprising many Wall Street analysts and pushing its market capitalisation above the $1 trillion mark. This has placed Micron among the top US-listed companies, ahead of companies such as Walmart and Intel by market value.

As the stock has emerged as a clear winner in the AI-led trade, rallying over 800% in one year, its earnings have drawn close attention fr...