Is Micron Technology Stock About to Join the Exclusive $1 Trillion Club?
Micron Technology's stock has surged almost 600% over the past year, and its valuation is nearing $1 trillion, driven by its leading position in high-bandwidth memory (HBM) for AI workloads. The company's revenue grew 196% to $23.8 billion in its fiscal 2026 second quarter, with its cloud memory segment, which includes HBM sales, increasing by 163%.
Micron Technology's valuation is approaching $1 trillion, driven by its dominance in high-bandwidth memory (HBM) for AI applications. The company's HBM3E leads the industry, and its upcoming HBM4 solution will be used by Nvidia alongside its new Vera Rubin GPUs. Micron's revenue surged 196% to $23.8 billion in its fiscal 2026 second quarter, with cloud memory revenue growing 163% to $7.7 billion. The company's entire 2026 HBM supply is already sold out, and it expects $33.5 billion in revenue in the current fiscal third quarter, representing 260% year-over-year growth. Micron's earnings soared 756% to $12.07 per share, driven by its pricing power due to high demand for HBM. The market for data center HBM is expected to triple to $100 billion annually by 2028.
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