Key Points
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Micron Technology (NASDAQ: MU) saw its stock price increase by 350% over the past year, reaching $423 per share, fueled by a surge in demand for memory chips due to artificial intelligence infrastructure needs.
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In the second quarter of fiscal 2026, Micron reported revenues of $23.8 billion, a 196% increase, and a non-GAAP net income of $12.20 per share, up 682% year-over-year.
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Wall Street forecasts that Micron’s earnings will peak at $92.35 per share in fiscal 2027 before declining 78% to $20.57 by 2029.
Micron Technology has experienced a remarkable stock surge, climbing 350% to $423 per share over the past year due to an unprecedented supply shortage of memory chips, driven largely by the demand for artificial intelligence. In its second-quarter report for fiscal 2026, Micron revealed a revenue increase of 196% to $23.8 billion, alongside a substantial 682% rise in non-GAAP net income to $12.20 per share.
However, despite these impressive gains, analysts predict that Micron’s earnings will peak in fiscal 2027 and subsequently decline by 78% by 2029. This forecast anticipates that Micron’s stock could reach $554 per share if it trades at the same multiples as in previous cycles following peak earnings.
