Micron’s Key Long-Term Growth Driver Beyond AI Data Centers

Micron Technology’s Growth and Future Opportunities

Micron Technology (NASDAQ: MU) has seen a remarkable increase of over 700% in its stock price over the past year, driven by soaring demand for its memory and storage products from AI data centers. During its fiscal 2026 third-quarter earnings call on June 24, CEO Sanjay Mehrotra highlighted the potential of humanoid robots as a more promising market than data centers, suggesting a substantial multidecade memory demand cycle starting in the latter part of this decade.

Mehrotra also noted that humanoid robots could require ten times the memory of an enhanced vehicle, potentially creating a market worth $200 billion in less than ten years, with some analysts forecasting trillions over the next decade. The ongoing chip supply shortages might exacerbate this demand, allowing Micron to sell its products at high margins.