Micron Stock Could Be Worth $2,000 by 2030. Here Is the Bull Case
It's essential to run multiple scenarios before buying the stock.
Overview
Micron Technology (NASDAQ: MU) is riding the wave of the artificial intelligence (AI) revolution. The company sells DRAM (Dynamic Random Access Memory) chips that are critical components powering the AI boom by enabling faster data processing in advanced AI servers and computing systems. Over the past year, Micron's shares have soared 595%, but what if the stock could continue delivering outstanding returns through 2030? Here's the case for Micron's share price reaching $2,000 by 2030, up from its current $861 (as of writing).
Image source: The Motley Fool.
Micron is benefiting from a shortage of memory chips, which is granting it significant pricing power. The company's most recent financial results look like something out of a dream for the bulls. In the third quarter of its fiscal year 2026, which ended May 28, Micron's revenue was $41.46 billion, up almost 346% compared to the year-ago period. The company's earnings per share (EPS) were $25.11, 1215% higher than the year-ago period. Yet the stock trades at just 5.7x forward earnings.
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Originally published at www.fool.com.