Is It Too Late to Buy Micron Technology Stock?

Micron has been one of the tech sector's biggest recent success stories.The artificial intelligence (AI) buildout is facing a memory bottleneck, and that has sent shares of Micron Technology (MU 0.60%) soaring. The memory and storage company is up 314% over the last year as of Feb. 13. If you haven't invested in Micron yet, you may be wondering whether you missed the boat. But even at the current share price, Micron is in a position to deliver continued growth. Image source: Micron Technology. Micron now trades at 39 times trailing earnings. It's somewhat expensive by that metric, but still in the range you'd expect from fast-growing tech stocks. For comparison, the tech-heavy Nasdaq-100 index has a price-to-earnings (P/E) ratio of 33 right now, and Nvidia trades at 45 times trailing earnings. However, Micron looks far less expensive when analyzed based on estimated future earnings. It trades at just 12 times forward earnings. At the same time, Nvidia shares cost 24 times forward earnings. This lower multiple doesn't mean Micron is a better investment than Nvidia, but it does mean that each dollar of projected income costs you half as much. ExpandNASDAQ: MUMicron TechnologyToday's Change(-0.60%) $-2.49Current Price$411.48Key Data PointsMarket Cap$463BDay's Range$392.83 - $420.8552wk Range$61.54 - $455.50Volume1.7MAvg Vol33MGross Margin45.53%Dividend Yield0.11% The large gap between Micron's trailing and forward P/E ratios suggests earnings could explode over the next year, and given the memory shortage, that looks like a safe bet. Micron reported net income of $5.2 billion in the first quarter of its 2026 fiscal year, nearly three times as much as it made a year prior, and it has already sold out its memory capacity for 2026. Memory has traditionally been a cyclical business, but AI chips are driving unprecedented demand. It's certainly not too late to buy Micron stock, as its earnings should continue to grow rapidly in 2026 and likely 2027, as well.Read NextFeb 17, 2026 •By Adam SpataccoThis Dirt Cheap Stock Is Expected to Quadruple Its Earnings This YearFeb 16, 2026 •By James HiresPrediction: Micron's Stock Could Reach $1,200 by the End of 2026Feb 16, 2026 •By Adam SpataccoPrediction: Micron's Stock Price Will Be Worth This Much by the End of 2026Feb 15, 2026 •By James HiresIs This AI Infrastructure Stock a Real Millionaire Maker or Just Hype?Feb 15, 2026 •By Keith SpeightsWill Micron Be the Next Nvidia -- or the Next Intel?Feb 12, 2026 •By Will EbiefungIs Micron Technology Stock the Next Nvidia?About the AuthorLyle Daly is a contributing Motley Fool stock market analyst covering information technology and cryptocurrency. Lyle has been a contributor at the financial services company since 2018. His work has been featured on USA Today, Yahoo Finance, MSN, Fox Business, and Nasdaq. Before joining The Motley Fool, he wrote for financial brands including Intuit.TMFLyleDalyX@LyleDalyStocks MentionedMicron TechnologyNASDAQ: MU$411.48 (0.60%) $2.49NvidiaNASDAQ: NVDA$182.81 (2.21%) $4.13*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.