Forget Micron Stock at $920 Per Share. Buy This Memory-Focused Artificial Intelligence (AI) ETF Instead.

Whether it's the fact that buying an individual share is stretching your purse strings or the belief that shares are poised to plunge after their recent rise, investors may recognize the allure of owning Micron Technology (NASDAQ: MU) stock but have reasons for not investing in it right now.

But buying individual shares of Micron isn't the only route to gain exposure to the memory leader. There's actually an exchange-traded fund that targets leading memory stocks -- including Micron -- available right now for only about $50 a share.

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Without sufficient memory, AI computing can't flourish

By now, most investors can name the usual suspects in artificial intelligence (AI). From Nvidia, a leader in graphics processing units (GPUs), to Palantir Technologies, which develops AI-driven software, investors have taken diverse routes to gain AI exposure over the past few years.

Enthusiasm for memory stocks, however, is a more recent phenomenon. As investors have gained greater insight into the industry, they've learned that GPUs are essential to AI computing, yet they can't perform at optimal levels without sufficient memory. This knowledge has contributed to Micron's stock rocketing 671% higher over the past year.

Investors don't have to rely on their intuition about the memory industry's likely growth in the coming years. Business intelligence firm Fortune Business Insights projects that the global semiconductor memory market will soar from a projected $190 billion in 2026 to $448 billion in 2034.

This memory ETF provides Micron exposure -- and much, much more

While Micron stock is down about 30% from its 52-week high of $1,255, it's still trading above $875 per share. It's not merely the sticker price of Micron stock that may make it undesirable for some investors. Shares are trading at a steep premium to their historical valuation. Currently, Micron stock is changing hands at 17.3 times operating cash flow -- a loftier valuation than its five-year average cash flow multiple of 8.1.

Recognizing the critical role that memory companies play in the development of AI infrastructure, Roundhill Financial launched the Roundhill Memory ETF (NYSEMKT: DRAM) in April 2026 to provide investors with comprehensive exposure to global leaders in memory solutions.

Investors who have eschewed buying individual Micron shares can still gain exposure through the Roundhill Memory ETF, as Micron is the fund's largest holding, with a 26.7% weighting. With 22 holdings, the fund provides exposure to a variety of other memory leaders. One name that may elicit interest is SK Hynix, a leader in advanced dynamic random-access memory (DRAM) and NAND flash memory. After the company completed its highly anticipated IPO earlier this summer, SK Hynix's stock has been on the radar of investors who are seeking memory exposure.

The Roundhill Memory ETF has $25 billion in assets under management and a 0.65% expense ratio.

Something to keep in mind about this memory ETF

While Micron's future is bright, Micron stock is certainly not guaranteed to perform nearly as well as it has over the past year. For those interested in broadening their exposure to the memory market beyond a single investment in Micron, the Roundhill Memory ETF is a great option to consider now -- especially given its current price of around $50 per share.

Scott Levine has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology, Nvidia, and Palantir Technologies. The Motley Fool has a disclosure policy.