Micron Technology stock keeps building on recent gains and the latest data about memory-chip prices bode well for its coming results.

The shares were up 1.2% at $1,028.80 in Tuesday's premarket. They are up 18% in the past month as investors have flocked back to the artificial-intelligence hardware trade.

Shareholders are likely to be heartened by the latest memory-chip prices. Average selling prices of dynamic random-access memory, or DRAM rose 6% in July from the previous month while NAND prices rose 9%, according to World Semiconductor Trade Statistics.

DRAM is short-term working memory that computers and AI hardware use to manage active data and running processes. It makes up about three quarters of Micron's revenue. NAND flash memory is used for longer-term storage.

"Memory data points for June were adjusted meaningfully, with DRAM and NAND sales both being revised 6% higher, further illustrating the strong and durable underlying economic setup across the memory space," wrote J.P. Morgan analyst Harlan Sur in a research note.

That's the kind of price growth that should be reflected when Micron reports its fiscal fourth-quarter earnings, due Sept. 30. The company's adjusted earnings per share are expected to rise to $30.89 from $2.84 for the same period a year earlier, while revenue is projected to rise to $50.41 billion from $11.32 billion, according to FactSet.

Micron won't see all of the future price growth flowing into its revenue. The company has locked in long-term supply agreements with many of its major customers, which set a ceiling on its prices, in exchange for guaranteeing long-term margins. But there should be plenty of runway for the memory-chip boom yet.