Why Micron Stock Skyrocketed 239.1% Last Year and Has Kept Rallying in 2026

Core Insights - Micron has experienced significant stock gains, with a 239.1% increase in share price in 2025, continuing its momentum into 2026 with an additional 27.1% rise [1][7] - The surge in demand for memory chips, particularly high-bandwidth-memory (HBM) chips used in AI processors, has been a key driver of Micron's growth [2][3] Financial Performance - In fiscal year 2025, Micron reported revenue of $37.38 billion, a substantial increase from $25.11 billion in fiscal 2024 [4] - Non-GAAP earnings per share for fiscal 2025 reached $8.29, a dramatic rise from $1.30 in fiscal 2024 [4] - For the first quarter of the current fiscal year, revenue rose 56.6% year over year to $13.64 billion, with adjusted earnings per share increasing 167% to $4.78 [6] Market Position and Strategy - Micron is the leading supplier of HBM chips for AI processors, with major clients including Nvidia and Advanced Micro Devices [3] - The company has sold out of HBM chips through 2026 and is shifting focus from consumer chips to the enterprise market [6][8] - Recent investments include the construction of a new chip fabrication facility in New York and the acquisition of a facility from Powerchip Semiconductor Manufacturing Corporation, aimed at scaling production capacity [9]