Why Micron Technology Stock Soared 304% in the First Half of 2026 and Why There Might Be More to Come

Micron Technology's stock surged 304% in the first half of 2026, driven by exceptional demand for memory and storage chips fueled by AI adoption. The company reported extraordinary financial results with Q2 revenue up 196% YoY and Q3 revenue up 346% YoY, with EPS surging over 13-fold. Management forecasts continued triple-digit growth for Q4 with revenue guidance of $50 billion and EPS of $31. The company has secured long-term contracts with major customers through 2030, and despite its meteoric rise, the stock trades at an attractive 21x earnings multiple.