Micron Technology‘s (MU -2.64%) stock price has cooled off this summer after rising over 1,000% in the last three years. Comments from the artificial intelligence (AI) market may indicate it is set to go even higher.
Projections of spending growth from the likes of Amazon, Alphabet, and now Space Exploration Technologies are not slowing down, meaning demand for AI chips is likely to rise through next year. Micron’s memory chips are a key input with growing importance for AI applications.
This earnings growth could mean a soaring Micron stock price. In fact, I predict that at some point in calendar year 2027, it could be above $2,000. But does that mean you should buy the stock today?
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