Micron stock surge and split speculation

Micron Technology has experienced a massive stock surge over the past year, rising nearly 700% as of mid-2026, driven by an unprecedented memory chip supply shortage fueled by AI infrastructure demand. The stock reached an all-time high in late June before a midyear sell-off, and investors are speculating about a potential stock split. Micron's revenue and profits have soared due to soaring DRAM, NAND, and HBM prices, with fiscal Q3 2026 revenue up 345% year-over-year. The company has signed 16 multiyear supply deals with customers, providing some protection against cyclical downturns. Analysts project continued growth into fiscal 2027, with revenue expected to reach $250 billion. However, concerns about the cyclical nature of the memory market and potential supply increases in 2028 could lead to valuation contraction. The stock trades at a high price-to-sales ratio compared to historical averages, but forward P/E remains low. The event is centered on Micron's exceptional performance and the debate over its future valuation and potential stock split.