Micron (NASDAQ: MU) has been a great stock to own in 2026, but I’m betting that it goes even higher by 2030. In fact, it could transform a $10,000 investment made today into a $42,000 position by then — and that’s on the conservative side of my estimated range.
That may seem unrealistic, but the company’s path forward looks clear.
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Micron has a major growth opportunity on its hands
The reason Micron has done so well in 2026 is that memory chip prices are soaring. Essentially, demand is far greater than supply, and new production capacity can’t be brought online quickly. Simple economic theory dictates that when market conditions like those occur, the price of the goods being sold skyrockets.
That’s exactly what has happened in the memory chip space, and it’s going to get worse before it gets better. Micron’s management team informed investors that it expects market conditions in 2027 and 2028 to be tighter than they were in 2026, so memory prices could continue to rise. For its fiscal 2027, which began Sept. 4, Wall Street analysts expect Micron to deliver 106% revenue growth. For fiscal 2028, they are only projecting 16% growth, but it’s a bit too early to make accurate predictions for that year, particularly considering how volatile the industry is right now. Analysts have also underestimated the AI build-out every step of the way, so I don’t think giving weight to their 2028 forecasts is worth it right now.
Micron has signed several long-term sales agreements with clients that will run through 2030; those deals indicate that huge demand for memory chips is on track to persist through the end of the decade, at least. Additionally, Micron has new fabrication facilities opening in mid-2027 and in late 2028 that will increase its production capacity. So, if memory prices stay high and Micron can increase its output, its revenue will continue rising.
For this projection, I’ll start with Wall Street’s $318 billion revenue projection for fiscal 2027, then assume Micron’s revenue will grow at a 30% pace in the following years. That would result in nearly $700 billion in revenue by 2030. Thanks to soaring memory chip prices, Micron’s profit margins are also maxed out.
MU Profit Margin data by YCharts.
If we bake a little conservatism into this estimate and assume a long-term profit margin of 60%, that would yield net income of $419 billion by 2030. If we value the company at 20 times trailing earnings (its current price-to-earnings ratio is 13, but cyclical factors heavily influence that), that would result in the stock being valued at $8.4 trillion. That’s way larger than the world’s largest company is today. Even if we say it would be valued at 10 times earnings, that would result in a $4.19 trillion company.
