Micron Shares Up 787% as 2026 Supply Sells Out, Revenue Soars to $23.8B
Micron shares climbed 787% over the past year to highs above $800, driven by AI memory demand as the company sold out its 2026 supply and posted revenue of $23.8 billion, triple year-on-year. The trailing P/E of 35 raises valuation concerns, although analysts predict a supercycle toward $1 trillion.
1. Diplomatic Visit Spurs Rally
Micron shares rose as US diplomatic engagement with China signaled potential easing of memory-chip export restrictions, sparking renewed buying in AI-focused suppliers.
2. Record Highs and 787% Gain
Shares have surged 787% over the past year, reaching highs above $800 on expectations of sustained AI-driven growth in high-bandwidth memory markets.
3. Supply Sell-Out and Revenue Surge
The company sold out its entire 2026 high-bandwidth memory supply and delivered revenue of $23.8 billion, nearly triple year-on-year.
4. Valuation and Supercycle Outlook
A trailing P/E of 35 flags valuation risks, but analysts forecast an AI supercycle that could propel Micron’s market value toward $1 trillion by 2030.