Micron Stock Has Surged 637% in a Year. History Has a Clear Answer Where It Will Be in 2027

SK Hynix, for instance, expects the memory crunch to worsen next year, even after capacity additions. As demand continues to outpace supply, prices should ideally continue rising. Market research provider Gartner projects a 125% spike in DRAM prices this year, while NAND flash could see a stronger jump of 234%.

If the supply crunch indeed worsens, Micron investors can expect further growth in earnings and margins on account of stronger pricing following a strong jump over the past year.

A solid spike in earnings suggests more upside in 2027

Micron’s earnings are expected to increase by nearly 9x in the current fiscal year to $73.44 per share, according to consensus estimates. The company’s fiscal 2026 will end next month. For fiscal 2027, which ends in August next year, analysts expect its earnings to more than double.

While that represents a slower increase from fiscal 2026 levels, the projected earnings growth for next year is still quite impressive. Of course, Micron can clock stronger earnings growth for the reasons discussed above, but even the projected bottom-line jump points to significant upside.

Micron trades at 22 times trailing earnings right now. That’s higher than the stock’s three-year median price-to-earnings ratio of 14.5, as per YCharts. Assuming Micron trades at 14.5 times earnings after a year and clocks $153.74 in earnings per share, its stock price could jump to $2,229. That’s a potential upside of 2.8x in just over a year.

So, this AI stock seems primed for another multibagger performance over the coming year, suggesting that savvy investors should consider buying it following its recent dip.

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Bank of America is an advertising partner of Motley Fool Money. Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool recommends Gartner. The Motley Fool has a disclosure policy.

Micron Stock Has Surged 637% in a Year. History Has a Clear Answer Where It Will Be in 2027 was originally published by The Motley Fool