Shares of Micron Technology (NASDAQ:MU) have climbed about 10-fold from their 2024 closing price of about $84. The memory maker's stock jumped 239% in 2025, and as I write it's more than tripled again this year, to roughly $903. If the stock ends 2026 over about $571, it'll be just the second time Micron has put up back-to-back triple-digit years. The first was 1993 and 1994, when shares rose 146% and 137%. (These and the other annual numbers here are calendar-year price returns from year-end closes, without dividends.) Micron's own history doesn't rule out more gains. But after looking at what followed its past booms, I think investors should expect far less from here.
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