Micron Technology, Inc. (MU) has achieved a 314.8% increase in stock value over the past year, significantly outpacing the Zacks Computer and Technology sector’s growth of 20.6%. This surge is largely attributed to the booming demand for memory chips driven by the artificial intelligence (AI) sector.
In the first quarter of fiscal 2026, Micron reported revenues of $13.64 billion, a 57% year-over-year increase, with non-GAAP earnings per share rising 167% to $4.78. The company’s gross margin improved to 56.8% from 39.5% in the previous year. Analysts forecast continued growth, estimating a revenue increase of 96.1% and earnings per share growth of 296.9% for fiscal 2026.
Micron’s forward price-to-earnings ratio stands at 10.24, significantly lower than the sector average of 25.06, making it an attractive option for long-term investors. The company is also well-positioned to benefit from ongoing trends in AI and high-performance computing.
