Trading expert sets date when Micron stock will hit $3,000

Following its explosive rally in 2026, semiconductor giant Micron Technology (NASDAQ: MU) could still have substantial upside ahead, with a trading expert projecting the stock may surge toward $3,000 over the next few years.

In a TradingView analysis published on May 11, technical analyst TradingShot argued that Micron is following a long-term chart structure similar to the company’s historic rally during the late 1980s and 1990s technology boom. 

According to the analyst, the stock appears to be entering a temporary “pause phase” before another major breakout.

The analysis noted that Micron has maintained a strong uptrend since rebounding from its April 2025 lows near the monthly 100-period moving average. 

TradingShot said the current setup mirrors the company’s historic post-IPO advance, which featured repeated cycles of sharp rallies followed by lengthy consolidations inside a broader ascending channel.

The analyst also highlighted the monthly Relative Strength Index (RSI), which has climbed into heavily overbought territory near 89. The current structure resembles Micron’s “second pause” during its 1995 rally, when the stock traded sideways for an extended period before resuming its upward move.

Based on the fractal analysis, TradingShot projected that Micron could remain in consolidation through much of 2026 as momentum indicators cool while the broader bullish trend remains intact. 

The forecast then anticipates another strong rally beginning around 2027, potentially pushing the stock toward the $3,000 level by early May 2029.

Micron’s rally has been fueled by soaring demand for AI-related memory products, particularly high-bandwidth memory chips used in AI accelerators and advanced data centers. 

The company has emerged as one of the biggest beneficiaries of the global AI infrastructure boom alongside other major semiconductor firms.

Notably, MU ended the Monday session up over 6%, trading at $795. Year-to-date, the stock has moved by over 150%. 

MU stock fundamentals 

The company’s financial results have further strengthened bullish sentiment. For the fiscal second quarter 2026, Micron reported record revenue of $23.86 billion, up 196% year over year, while adjusted earnings per share reached $12.20, well above Wall Street expectations. DRAM revenue accounted for most sales growth, while NAND flash revenue also posted strong gains.

Management has indicated that demand for AI memory products is expected to remain tight through at least 2027, supporting elevated pricing and profitability. 

Micron is also ramping up investment to capitalize on the AI boom, with planned fiscal 2026 capital expenditures exceeding $25 billion alongside expansion of its AI-focused HBM and storage product lineup.

However, analysts have cautioned that Micron appears heavily overbought, while the semiconductor industry’s cyclical nature could still trigger sharp pullbacks and periods of volatility.