Though Micron Stock Is Falling, This Top Investor Isn’t Selling (Yet)

**Micron Technology (NASDAQ:MU) **skidded yesterday, losing some 8% of its value as geopolitical worries triggered a large selloff. The rapidly evolving situation in the Middle East raised fears of a broader conflict, one that would raise energy prices and hamper economic growth.

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While MU was far from the only stock that dropped yesterday, its decrease was particularly sharp. The company’s share price is heavily dependent on future growth, and the prospect of a massive disruption badly hurt sentiment.

It’s ironic, however, that the drop occurred yesterday, since the company had some good news to share. Micron released a press release announcing it had shipped customer samples of the “industry’s highest-capacity LPDRAM module.” The company declared that this “milestone” would deliver low-power memory capacity and serve as a “transformational step forward for AI data centers.”

The company’s share price has soared by over 200% during the past six month, even taking into account yesterday’s pullback.

Top investor James Foord sees more growth ahead, and plans on sticking around for quite some time.

“Micron remains a top AI beneficiary,” states the 5-star investor, who is among the top 3% of stock pros covered by TipRanks.

Foord acknowledges that this is no longer a secret, as the company’s rise has caught the attention of investors far and wide. As a refresher, the investor cites the industry-wide memory bottleneck, along with strong pricing power, both of which have boosted Micron’s earnings as the AI revolution has taken off.

Moreover, the recent Nvidia earnings report (“blowout earnings,” according to Foord) demonstrates that the AI boom is very much “alive and well,” he adds.

The real question for investors is, how long can the good times last? Using projections that the company’s 2026 EPS will be roughly $33, and assuming a 30x price-to-earnings multiple, Foord calculates that Micron’s share price could move within striking distance of $1,000.

“This seems quite reasonable to me, given that it aligns with the current PE, implies 30% growth, which is doable, and lines up well with current valuations for peers,” he posits.

Following this logic, Foord doesn’t plan on bidding adieu to MU until it hits the $1,000 mark, something he believes could very well happen sooner rather than later.

This isn’t a set-it-and-forget it investment, however. Shrinking margins, for instance, could change his calculus.

For now, though, Foord is all in, predicting that “$1,000 seems to be in the cards for 2026.”

The investor is therefore maintaining a Strong Buy for MU. (To watch James Foord’s track record, click here)

Wall Street is also very bullish about MU. With 26 Buys and 2 Holds, MU soars to a Strong Buy consensus rating. Its 12-month average price target of $417.81 points to additional gains of 10%. (See MU stock forecast)

Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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