Micron Stock Price Predicted to Hit $2,000 by 2027

Micron Technology's (MU) stock price has cooled down after rising over 1,000% in three years.

However, market predictions suggest it will continue to grow. Amazon, Alphabet, and Space Exploration Technologies are increasing their spending on AI infrastructure, which is expected to drive up demand for Micron's memory chips.

Last quarter, Micron's revenue grew 346% year over year to $41.5 billion, with an operating margin of 80%. This growth is due to price hikes on memory chips sold to customers like Amazon.

Micron has its customers captive, with no alternatives except South Korean memory chip providers that are currently facing shortages. As a result, AI infrastructure players will need to pay whatever price necessary for Micron's chips.