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Shareholders waiting to see when the memory-chip company will garner a higher valuation might have to wait for a while.Micron shares were down 0.2% at $1,061.50 in premarket trading Tuesday. Although the stock has rebounded handily from lows of below $800 in the summer, recent blowout earnings haven't helped it regain the highs of more than $1,200 reached earlier this year.As Barron's has previously written, the problem is that investors are still wary of what happens when the artificial-intelligence boom stops driving memory prices higher. 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They cite conversations with business leaders including Nvidia CEO Jensen Huang about options for working around the DRAM bottleneck, including \"de-speccing,\" or reducing memory capacity on some products. But this is all taking place against a supply-constrained backdrop, the analysts write, adding that the main risk to the memory cycle is an overall deceleration in AI itself. Barring that, the demand for memory will prove resilient, they say, and even if customers \"despec\" in the near term due to supply constraints, \"more supply will be very easily absorbed as we respec to higher 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