Good news doesn't seem to be doing much for Micron Technology lately. Still, shareholders in the memory-chip company should pay attention to the optimism coming from its Asian peers.

Micron shares were down 1.6% at $920.60 in premarket trading. The stock is down a little over 3% in the past five trading sessions, even after major customer Nvidia signaled it will be spending more than ever on memory components next year.

Some skepticism over how much further Micron can run is to be expected after its nearly-700% gain. But naysayers might want to listen to the chief executive of its South Korean peer SK Hynix, Kwak Noh-jung, who said Thursday that the memory shortage could persist through the end of 2030. That's despite all suppliers rushing to increase capacity-in fact the CEO was talking at a groundbreaking ceremony for a more than $4 billion facility in Indiana to package high-bandwidth memory chips.

If those comments are correct, the memory-price boom and Micron's huge revenue and profit surge has more room to run than most of Wall Street expects. Analysts have generally penciled in a potential moderation in prices from the second half of 2028 onward as more production comes online.

For now, it's full-steam for memory producers. Just look at China's CXMT which reported a more than 870% increase in its first-half revenue on Friday. While Chinese competition comes with some complications for Micron, it's another reminder of the stunning momentum behind memory chips.