This is Where Micron Stock Will Trade in 5 Years

Quick Read

Micron (MU) posted Q1 FY2026 revenue of $13.643B, up 56.6% year over year, with its Cloud Memory Business Unit nearly doubling to $5.284B at a 66% gross margin and guidance for Q2 EPS of $8.42 with 68% gross margin. Shares have surged 163% year to date and 693.87% over the past year, though they sit 25% below the $818.67 52-week high.

Reaching Micron’s $1,250 target by 2031 requires HBM margins to stay above 60%, fiscal 2027 EPS to exceed $20, and sustained hyperscaler capex demand, as AI infrastructure dependency has structurally changed memory economics from prior cycles.

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Micron Technology (NASDAQ:MU) has transformed from cyclical memory laggard into AI infrastructure essential in under a year. It delivered Q1 FY2026 revenue of $13.643 billion, up 56.6% year over year, with the Cloud Memory Business Unit nearly doubling to $5.284 billion at a 66% gross margin.

CEO Sanjay Mehrotra called Micron “an essential AI enabler”. Shares are up 163.25% year to date and 693.87% over the past year. The question I want to answer: can Micron reach $1,250 by 2031?

Why Micron Has Slipped From Its 52-Week High

The stock sits 25% below the $818.67 52-week high. Over the past week, shares added 3.63%, and the trailing month is up 54.06%, but composite sentiment has fallen 20.05 points over the past 30 days. Insiders have been net sellers across 65 recent transactions.

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With a beta of 1.919, Micron moves harder than the market in both directions. Profit-taking after a 498.99% two-year run is showing up in price action. Concerns about NAND oversupply, heavy capex, and the cyclicality of memory remain credible risks.