Stock-Split Watch: Is Micron Next?

• Micron (MU) stock surged 350% in a year but fell 25% from its June 52-week high. • A forward stock split could lower MU's ~$900 share price and widen investor access. • MU trades at just 13x earnings vs. 45x for semiconductor peers, with EPS seen up 134% this year. Micron Technology (NASDAQ: MU) shares have soared 350% over the past year, far outpacing the PHLX Semiconductor Sector index's 68% gain. Still, the stock has slid 25% from its June 52-week high, likely due to broader market worries about AI infrastructure spending amid higher interest rates rather than any weakness in Micron's own results. With shares near $900, management could consider a forward stock split—its first since 2000—to make the stock more accessible to retail investors. A split wouldn't change the company's fundamentals, but a lower share price can sometimes boost demand. Split or not, Micron looks attractively valued. It trades at just 13 times earnings versus 45 times for the iShares Semiconductor ETF, even as analysts have raised EPS estimates and project a 134% jump in earnings per share this fiscal year, fueled by steady memory demand from data centers, smartphones, and PCs.