Micron Stock Soars Over 300% as AI Demand Surges

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Micron Technology's stock price has skyrocketed over 300% in the past 12 months as the company experiences unprecedented demand for its memory products, particularly high-bandwidth DRAM chips needed for the growing artificial intelligence (AI) market. With Micron already sold out of supply through 2027, the company is expected to generate more revenue in the upcoming quarter than it did for the entire fiscal year just three years ago.

Why it matters

Micron's surging performance highlights the critical role memory chips play in powering the AI infrastructure build-out, which is driving massive demand growth. However, the stock's meteoric rise raises questions about whether it is still a good investment at current valuations, especially if AI spending slows unexpectedly.

The details

Micron sells both NAND and DRAM memory products, but its high-bandwidth DRAM chips are in particularly high demand from AI companies. The market for these advanced memory products is expected to grow from $35 billion in 2025 to $100 billion by 2028, and Micron is well-positioned to capture a large share. In its most recent quarter, Micron's revenue was up 57% year-over-year, and the company expects to generate $18.7 billion in revenue in the upcoming quarter - more than its entire fiscal 2023 revenue.

• Micron's stock price has gained over 300% in the last 12 months.
• Micron has already sold out its entire 2026 supply and is in conversations for 2027.
• The high-bandwidth memory market is expected to grow from $35 billion in 2025 to $100 billion by 2028.

What’s next

Investors will be closely watching to see if Micron can maintain its strong performance if AI infrastructure demand continues to outpace supply through the end of the decade.