Micron Tops $1,000 as Investors Weigh Odds of First Stock Split in 26 Years

Micron Technology (MU) shares closed above $1,000 for the first time in June and remain near $1,032, giving the memory-chip maker a market value of about $1.2 trillion and reviving speculation about a fourth stock split, its first since March 2000. Micron has announced no such plan and management has not publicly discussed one. Fiscal third-quarter diluted earnings per share, for the period ended May 28, 2026, reached $24.67, up from $12.07 sequentially and $1.68 a year earlier. Revenue rose more than threefold year over year to $41.5 billion, while gross margin jumped to 84.6% from 37.7%, driven by AI data-center demand outpacing industry supply. Micron guides fourth-quarter EPS of $30.73, plus or minus $1.00, about 25% sequential growth, a slowdown from over 100%. Shares outstanding stand near 1.13 billion, roughly flat. Peers Nvidia (NVDA) and Broadcom (AVGO) each announced 1-for-10 splits in 2024 during earnings calls; Micron reports fiscal fourth-quarter results on September 30, 2026.