Following its explosive meeting in 2026, semiconductor giant Micron Technology (NASDAQ: IN) would still have many hurdles to overcome, the stock market analyst suggests that the stock could rise to $3,000 in the next few years.
In a TradingView analysis printed on May 11, technology analyst TradingShot said Micron is following a long-term strategy similar to that seen in the industry’s most popular stock market in the late 1980s and 1990s.
According to the analyst, the stock appears to be entering a “pause” for a while before another major breakout.
The analysis showed that Micron has remained strong since it rebounded from the April 2025 low near the 100-month moving average.
TradingShot he said the current launch reflected the company’s post-IPO history, which featured repeated conflicts followed by long-term consolidation within a broader upward trajectory.
The analyst reviewed the monthly Relative Strength Index (RSI), which has risen in the overbought area near 89. This pattern is similar to Micron’s “second pause” during its 1995 rally, when the stock traded sideways for a long time before starting to rise.
Based on fractal analysis, TradingShot he suggested that Micron could remain consolidated through most of 2026 as cooling indicators continue to grow.
The forecast also expects another strong rally from 2027, which could push the stock to the level of $3,000 in early May 2029.
Micron’s meeting has been fueled by the growing demand for AI-related memory products, especially high-bandwidth chips used in AI accelerators and high-end data centers.
The company has emerged as one of the biggest beneficiaries of AI development in the world along with other major semiconductor companies.
In particular, MU ended Monday’s session up more than 6%, trading at $795. Year over year, the stock has gone up 150%.
The value of shares in MU
The company finances results have also reinforced bullish sentiment. For the second fiscal quarter of 2026, Micron reported revenue of $23.86 billion, up 196% year-over-year, while earnings per share came in at $12.20, beating Wall Street expectations. DRAM revenue led sales growth, while NAND flash revenue also delivered strong gains.
Management has indicated that demand for AI memory products is expected to remain strong through 2027, supporting higher prices and profitability.
Micron is also raising capital to capitalize on the AI boom, with a projected 2026 investment of more than $25 billion along with the expansion of its AI-focused HBM and inventory portfolio.
However, analysts have warned that Micron appears to be overbought, as the semiconductor industry’s pace of growth could lead to more difficult and volatile times.
