‘Historic Memory’: Micron Stock Not Slowing Down, Says Top Investor

The splurge in AI capex spend represents mountains of dollars exchanging hands, with the fortunate ones on the receiving end of these historically large sums of money. Count **Micron Technology (NASDAQ:MU) **among those earning the big bucks.

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The company is one of only a select few capable of supplying the high-bandwidth memory products that AI relies upon. None other than Nvidia CEO Jensen Huang called Micron Technology “invaluable.”

The numbers certainly seem to bear out this assertion.

Micron delivered revenues of $13.6 billion in its most recent earnings report, reflecting robust growth of 57% year-over-year. Expectations are ripe for even further sales up ahead when the company reports its Q2 2026 earnings later this week, with analysts projecting some $19.23 billion in revenues.

MU’s share price has shot up some 50% year-to-date and has gained over 300% during the past twelve months.

While MU has sailed upward thanks to these jaw-dropping numbers, there’s a lingering fear that the boom-and-bust nature of the memory industry may lead to a big drop up ahead.

Top investor Will Healy certainly appreciates that concern. However, he also believes that this time is very different.

“Thanks to the demand for HBM, down cycles have not hit Micron’s financials as hard, meaning the stock is in a long-term uptrend,” notes the 5-star investor, who is among the top 3% of stock pros covered by TipRanks.

Healy notes that high bandwidth memory is simply vital for AI. Moreover, the fact that Micron has few peers capable of supplying this “critical component” makes it primed for further growth, according to the investor.

Healy doesn’t argue that investors should discount the cyclical worries, and understands that at some point a downturn could definitely come. However, looking at the numbers, the investor doesn’t see that happening for quite some time, citing strong expectations for continued revenue growth in fiscal 2026.

In addition, despite the rapid increase in its share price and strong prospects for growth, the investor also points out that MU’s valuation remains fairly muted with a forward price-to-earnings ratio of 12x.

“Even with the risks of a severe down cycle, the rapid growth and falling valuation arguably make Micron too cheap to ignore,” concludes Healy. (To watch Will Healy’s track record, click here)

Wall Street doesn’t seem particularly concerned with the prospects of a “brutal stock sell-off,” in the words of Healy. With 25 Buys and 1 Hold, MU enjoys a Strong Buy consensus rating. Its 12-month average price target of $440.31 implies minimal upward movement in the year ahead. (See MU stock forecast)

Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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