Micron (MU) has been one of the best-performing stocks in the AI boom. The AI memory chip manufacturer has a steep rise in revenue and earnings per share (EPS) in the last few quarters. Let’s discuss what may be in store for Micron’s (MU) stock price in the next 10 years.
Micron Stock Price In 10 Years
Wall Street analysts are increasingly bullish on Micron (MU). Citi has a stock price target of $1400, while Bernstein has a target of $1300. JPMorgan expects Micron’s stock price to hit $1540. Barclays and Cantor Fitzgerald have some of the highest price targets for MU, expecting the asset to eventually hit $2000. While these firms are significantly bullish on Micron (MU), there is no clear roadmap for when the asset may attain the projected price levels.
Also Read: Nvidia Stock at $200: Wells Fargo Reiterates Its Price Target
Micron (MU) plays a vital role in the AI chip industry. Nvidia and AMD, both, use Micron memory chips for their hardware. This puts Micron in a unique position. Whether Nvidia or AMD comes out on top, Micron will still have a role to play. The AI boom is expected to continue surging over the coming years. By 2036, Micron (MU) stock could potentially even breach the $3000 price level, if the industry continues on its current trajectory. However, we may see stock splits along the way which may lead to prices being lower, but shares being higher in number.
Risks Of An AI Bubble
Many industry experts have warned that we may be in an AI bubble. Analyst Michael Burry, who famously predicted the 2008 housing crisis, also believes we may be in an AI bubble. Burry stated that the current scenario is similar to the late 1990s. Micron stock prices could take a big hit if an AI bubble were to burst.
Nvidia CEO Jensen Huang recently shed light on the possibility of an AI bubble. Huang said that if there is a bubble, it wont happen in the next five years. Therefore, a 10 year outlook for Micron (MU) is difficult. We could see a potential crash before 2036.
