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

Micron Technology’s shares (NASDAQ: MU) are up 637% over the past year, reflecting the company’s earnings surge amid a broad memory shortage. The article attributes the rally to a parabolic jump in both DRAM and NAND flash prices, fueled by rapidly expanding demand from AI data centers for faster compute memory and ample storage for training, inference, and agentic workloads. It highlights high-bandwidth memory (HBM) as a key constraint, citing Bank of America that HBM requires three times the wafer capacity of conventional DRAM. The piece also says the HBM market is projected to grow 7x by 2030, reaching $246 billion in revenue.