From Microchips to AI: Micron Technology’s Impressive Evolution

For decades, the computer memory market has been an extremely lucrative business, and Micron Technology has always been considered a significant supplier of these critical chips. Founded in 1978, the company produced its first memory chip in 1981 and went public in 1984. Over the next 20 years, Micron experienced rapid growth. The company developed numerous industry standards and supplied groundbreaking devices such as home computers in the 1980s and consumer electronics in the 1990s. In the process, it acquired memory chip manufacturing facilities from technology giants like Texas Instruments and Toshiba. During this euphoric phase, Micron's stock price soared, leading the company to conduct three stock splits between 1994 and 2000. The last split was a 2-for-1 split in the spring of 2000, about two months before the dot-com bubble burst. If one had owned an original Micron share prior to spring 1994, it would have transformed into 10 shares today, collectively worth about $880. This represents a market-beating gain of 3,450% over 30 years. Like many of its technology peers, Micron only regained its 2000 peak prices decades later. The painful experience of a split just before a massive market crash makes it unlikely that Micron will consider another stock split in the near future. However, Micron recently broke through this invisible barrier. The AI boom could give the stock another boost. Despite the newfound upswing, shares remain affordably priced, which does not immediately call for another stock split. These calls may change if the price approaches the $1,000 mark—something that could take years even in a prolonged bull market. Before investors purchase shares of Micron Technology, they should consider the following: The analyst team at The Motley Fool Stock Advisor has just identified ten top stocks that they believe investors should buy right now—and Micron Technology was not one of them. The selected ten stocks could potentially yield above-average returns in the coming years. One example is Nvidia, which appeared on this list on April 15, 2005. If you had invested $1,000 in this stock at that time, your investment would be worth $708,348 today! Stock Advisor offers investors an easy-to-follow success strategy, including guidance on building a portfolio, regular updates from analysts, and two new stock recommendations per month. Since 2002, the Stock Advisor service has more than quadrupled the return of the S&P 500.