Micron Stock’s Stunning Run Isn’t Over Yet — Could $500 Be Next?

Micron Technology (MU) has extended its rally into 2026. The stock is already up 25% year-to-date (YTD) and has gained over 247% over the past 12 months. Despite its monster rally, MU stock could still have meaningful upside ahead.

The primary catalyst behind Micron’s surge is accelerating demand for its memory and storage products, particularly from data center operators building out artificial intelligence (AI) infrastructure. As hyperscalers and enterprises invest heavily in AI workloads, the need for high-performance DRAM and NAND solutions will remain high, strengthening Micron’s earnings growth outlook.