Micron Shares Rise 172% as P/E Falls Below 9× and Lobby for MATCH Act
Micron shares have risen 172% in 2026 as forward P/E fell below nine from 12 February and forward EPS estimates jumped 768% over the past year. The company is lobbying Congress for the MATCH Act to limit Chinese memory chip competition and regain access to China’s market.
1. Stock Rally and Valuation Reset
Micron shares have climbed 172% in 2026 as forward P/E fell below nine from 12 in February, even as forward EPS estimates surged 768% over the past year, signaling a valuation reset despite the share price rally.
2. AI Demand and Supply Dynamics
Intense demand for AI infrastructure memory has tightened supply, driving high-bandwidth modules’ pricing and underpinning rising earnings expectations, though past boom-and-bust cycles highlight potential volatility.
3. Regulatory Lobbying and Market Access
The company is pushing Congress to pass the MATCH Act to curb Chinese memory chip competition and is engaging both US and Chinese officials to restore its access to China’s lucrative memory market.