Prediction: This Is What $2,000 Invested in Micron Stock Today Could Be Worth by 2029

Micron Technology (MU) posted an extraordinary fiscal year in 2026, with revenue reaching $133.2 billion, a 256% increase from the previous year. Earnings per share skyrocketed to $74.33, almost ten times the $7.59 share value from the prior year. This surge in stock price has led to Micron becoming a $1.1 trillion megacap in just 18 months.

The company's success can be attributed to a physical shortage of memory chips needed by AI data centers, driving up demand for Micron's products. Micron's fiscal fourth-quarter results showed revenue of $54.23 billion, up 31% sequentially and 379% year-over-year. Non-GAAP earnings per share came in at $33.42. Management expects first-quarter fiscal 2027 revenue to land between $60 billion and $63 billion, indicating the boom is expected to continue accelerating.

A key product announcement for 2027 involves HBM4, the latest-generation high-bandwidth memory designed specifically for Nvidia's next-generation GPUs and NVLink Fusion platforms. Micron is also investing in expanding its manufacturing capacity, with construction underway for a second fab in Idaho and a first fab in New York. The supply-demand imbalance is expected to persist until 2027 or later.

Analysts are predicting that memory demand driven by AI trends will remain structurally elevated through 2029, potentially driving Micron's revenue to $190 billion and the company's market cap to $1.5 trillion, with a share price around $1,330. In a more conservative scenario, new supply from Micron and its competitors may eventually catch up with demand by 2028, leading to normalized memory prices and a market cap of $500 billion, with a share price near $440, making an initial $2,000 investment worth approximately $890.