Micron’s Stock Is Up More Than 270% This Year. Here’s How It Could Double by 2026.
Micron (NASDAQ: MU) investors have had a banner year, with the stock up more than 270% year to date. If you invested in a broad market index fund, such a return could take ten years to earn. This upward trend speaks to the results investors can get from individual stock picks, but bygone is past. What matters is what comes next.
Despite the strong rise of Micron already in 2026, there is a scenario where the stock doubles by the end of the year. That would obviously make it a buy now, but how is it possible to achieve such a return?
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Memory shortage drives up Micron’s stock
Data centers require a large amount of memory to run. There are two main types of memory, and each is used differently. DRAM memory is widely used in computer chips, which are seeing a spike in demand as more computing power is used to implement artificial intelligence (AI). Micron also makes NAND memory, which is used primarily for data storage as solid-state drives (SSDs). Both products are in short supply, causing prices to rise. Macron is cashing in on this deficit, but he’s also working to eliminate it at the same time.
By mid-2027, Micron’s new Idaho facility will be operational, with several other manufacturing sites currently under construction. At the same time, investors are getting 2027 capital expenditure estimates above 2026 levels. In fact, Nvidia believes that its global data center spending could reach $3 trillion to $4 trillion annually by 2030.
Compared to the estimated $650 billion in AI hyperscalers expected to be deployed this year, that growth presents major supply challenges and could extend the memory chip shortage for several years, making Micron’s stock an excellent long-term investment.
How can Micron double from here
But in 2026, Micron’s stock is worth less at $18 forward. His age, Sandisk (NASDAQ: SNDK)it has already increased almost 28 times in earnings. That could easily open up another 50% growth based on inventory alone. However, if investors start getting excited about data center demand in 2027 and Micron’s revenue growth exceeds expectations (currently, analyst consensus projects 263% growth in its next quarter and 250% after that), Micron’s stock could easily rise another 50% based on hit estimates.
