Micron Technology‘s (MU 7.72%) stock is up nearly 700% in the past year. The semiconductor company is currently benefiting from an unprecedented supply shortage in memory chips driven by demand for artificial intelligence infrastructure.

I predict Micron stock will hit $1,875 per share after the company reports financial results for fiscal 2027, which will happen sometime in September 2027. That implies about 91% upside from the current share price of $982. Here’s my rationale.

Image source: The Motley Fool.

Micron is growing very quickly due to a severe memory chip supply shortage

Micron develops memory and storage solutions for cloud and enterprise data centers, mobile devices and other consumer electronics, and automotive systems….