Shares of Micron Technology (NASDAQ:MU) have surged dramatically, coinciding with a shift in retail investor sentiment on platforms like Reddit and X from moderate to extremely bullish. The stock is up 462% from its 52-week low of $61.42, currently trading near $345. Reddit sentiment scores have risen sharply over the past week, with mentions spiking on r/wallstreetbets.
The enthusiasm comes as Micron delivered remarkable Q1 FY2026 results, with revenue climbing 56.7% year-over-year to $13.64 billion and net income soaring 175.4% to $5.24 billion. The company’s 38.4% net profit margin is stunning. Operating cashflow reached $8.41 billion in the quarter. Attention intensified following comments from Nvidia’s CEO about AI storage demand, which sent memory chip stocks surging across the board.
WSB Traders Celebrate Life-Changing Returns
The viral content driving discussion centers on spectacular gains from options trades. One trader turned $23.6k into $577k with June 2026 $150 calls purchased in July 2025, posting a 2,344% return on r/wallstreetbets. In the post, the trader celebrated the massive gain, writing “23.6k to 577k for 2344% Gain in $MU 🚀” and shared screenshots of the position. The community responded enthusiastically, with one commenter writing “This is the kind of gain porn we come here for” and another noting “Congrats and fuck you.” The trader’s post garnered over 1,500 upvotes and 142 comments, exemplifying the current euphoria. Meanwhile, analytical investors point to Micron’s forward PEG ratio of 0.20 compared to the sector median of 1.66 as evidence the rally has fundamental support.
23.6k to 577k for 2344% Gain in $MU 🚀
by u/wanderingtycoon in wallstreetbets
The bullish case rests on several concrete factors:
- Micron dominates HBM (high-bandwidth memory) for AI applications with first-in-class technology
- Gross margins reached 56.1% in Q1 FY2026, with guidance projecting margins exceeding 50% going forward
- Forward P/E of 10 suggests strong expected earnings growth despite the stock’s substantial momentum
Strong Market Performance
Micron shares have gained 462% from their 52-week low of $61.42, with the stock currently trading near $345. The company’s market capitalization has reached $388.4 billion. However, insider selling activity has been notable in recent months. While executives regularly sell for diversification, investors should watch Q2 FY2026 earnings guidance and continued AI data center demand trends as key indicators of whether this momentum can sustain.