MU - Where Will Micron Technology Stock Be in 5 Years?
2024-05-26 12:00:00 ET
Micron Technology (NASDAQ: MU) stock has set the market on fire in the past five years, recording impressive gains of 258% and outpacing the Nasdaq-100 Technology Sector index's returns of 136% by a big margin.
A nice chunk of the stock's gains have arrived since the beginning of 2023 when the artificial intelligence (AI) hype started building up. And now, AI is more than just hype for chipmakers such as Micron, whose products are helping build the required infrastructure needed for the proliferation of this technology. The good part is that AI is likely to remain a top growth driver for Micron over the long run, driving robust growth in the company's top and bottom lines.
Let's see why that may be the case and try to find out if Micron can continue to deliver big gains over the next five years.
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Where Will Micron Technology Stock Be in 5 Years?