Micron Technology (MU +2.24%) has become one of the quickest rising stocks in the market. Last year at this time, it was trading for under $100 per share. Now, it’s well over $700. The question for investors today is, can that rise continue, and what is a reasonable price target for the end of 2027?

Let’s take a look at where Micron could be headed, as it could be a no-brainer buy now.

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Memory chips are in short supply

Micron is one of just a few makers of memory chips, which are utilized in nearly every computational device. This industry is notoriously cyclical, and there isn’t much that sets one manufacturer’s products apart from another. As a result, memory chips are basically a commodity, and the…