Can Investing in Micron Stock Make You a Millionaire?

Micron (NASDAQ: MU) has been an incredibly popular stock to invest in over the past few months. So far in 2026, it's up around 225%, making it the second-best stock in the S&P 500 (SNPINDEX: ^GSPC) this year. However, it has sold off over the past few days with general weakness in the AI sector, and is down nearly 20% from its all-time high.

The same catalysts that existed a few months ago are still present today, so this short-term sell-off looks like a great buying opportunity. In fact, many investors are wondering if Micron's stock is their ticket to becoming a millionaire. Is this possible? Or has it already come too far? Let's take a look.

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Micron still has major upside ahead

Any stock could be a millionaire maker depending on the initial investment threshold. I could provide you with countless stocks that will turn $999,000 into $1 million and be considered successful, but that's not the ultimate goal. The real goal is to find stocks with massive upside that can deliver 10x, 100x, or even 1,000x returns. Normally, I like to set the bar at 100x as a millionaire-maker return, which would transform a $10,000 investment into $1 million. With Micron's valuation of $1.1 trillion, a 100x return would make it a $110 trillion company. That's not a realistic bar to obtain, but what about 10x returns over the extremely long term?

That's a bit more realistic, so let's focus our energy there.

Micron makes memory chips, which are in short supply due to massive demand from the AI build-out. Short supply and strong demand are causing prices to soar, dragging Micron's revenue and profits along for the ride. Micron's growth has gone parabolic, with its revenue two quarters ago coming in at $23.9 billion, its latest quarter coming in at $41.5 billion, and next quarter expected to be around $50 billion. That's an incredible trajectory, and it could continue for some time.

Micron told investors it expects market tightness to continue beyond 2027, meaning there are still several quarters' worth of strong growth ahead for Micron. That could lead to strong returns, but will it be enough to achieve 10x returns?

Wall Street analysts project Micron's earnings per share to reach $152.62 in fiscal year 2027 (ending August 2027) and $165.94 in fiscal year 2028. Should Micron's stock reach those levels in 2028 and trade for 25 times earnings, it would be worth around $4,150 per share. At today's $984 share price, that represents a little over a 4x return, which falls well short of the required threshold.

Micron's stock may not be a millionaire maker, but it could still outperform the market and its peers pretty handily over the next few years. That makes it a strong stock pick, and I think investors should still treat it as such.

Keithen Drury has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.