Micron Stock Has Surged 637% in a Year. History Has a Clear Answer Where It Will Be in 2027
Micron stock has taken a beating of late, but its biggest catalyst isn't going anywhere.
Overview
The exponential growth in earnings registered by Micron Technology (NASDAQ: MU) over the past year has translated into solid gains on the stock market, with shares of the memory giant up by a whopping 637% during this period.
The incredible demand for memory and the accompanying shortage of dynamic random-access memory (DRAM) and NAND flash storage have fueled the company's remarkable surge. Micron stock has benefited from a parabolic jump in memory prices. You may now be wondering if this high-flying chipmaker can continue skyrocketing.
Details
The good news is that it can indeed sustain its red-hot rally well into 2027. To see why that's likely to be the case, we will need to take a closer look at the primary catalyst that has sent this semiconductor stock soaring over the past year.
Source
Originally published at www.fool.com.