A major semiconductor play just posted impressive numbers that caught analysts' attention. In less than four months, the stock surged 108%, riding the wave of exploding AI memory demand. Here's what's backing the momentum: Q1 delivered $4.78 earnings per share on $13.6 billion in revenue—solid execution. Looking ahead, guidance signals even bigger things: $18.7 billion revenue projected for Q2, with $8.42 EPS and a 68% gross margin. What's notable? Despite the massive run-up, valuation metrics like PEG ratio and EV/EBITDA still look reasonable when stacked against competitor multiples. That's the kind of setup that keeps traders watching. The AI memory tailwind isn't just hype—it's showing in the actual numbers, and the numbers keep delivering.