Could Micron Technology Stock Make You a Millionaire in 2026?

Core Viewpoint - The rise of generative artificial intelligence (AI) has significantly benefited Micron Technology, leading to a 254% increase in its stock price over the past year, prompting interest from Wall Street [1] Group 1: Micron's Role in AI - Micron provides essential memory chips that support AI hardware, particularly for large language models (LLMs) that require substantial memory for data storage and processing [2] - Analysts predict that AI companies could account for 70% of memory chip production by 2026, allowing Micron to increase prices across its product range [3] Group 2: Financial Performance - In the fiscal first quarter ending December, Micron's total sales surged by 57% year over year to $13.6 billion, primarily driven by growth in its cloud services division serving AI data centers [4] - The total addressable market for Micron's high-bandwidth memory devices is projected to reach $100 billion by 2028, with a compound annual growth rate (CAGR) of 40% [4] Group 3: Future Outlook - Micron is experiencing a significant increase in cash flow due to rising demand for memory hardware in AI data centers, which could be utilized for stock buybacks [6] - Despite current success, the memory industry is cyclical, and Micron may face challenges if demand fluctuates, but buybacks could help maintain stock value relative to earnings [8]