When it opened at around $295 per share to start 2026, the memory and data storage company Micron Technology (MU +0.59%) did not appear to be a likely candidate for a stock split anytime soon. But as the year has progressed, and thanks to artificial intelligence (AI), shares have surged. Micron's stock price is now above $1,000 as of June 15.
Although Micron has split its stock in the past (the last one happened in 2000), that's not an indication it will do so again. Also, buying Micron should be about more than a split.
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The perceived and potential real benefits of a stock split
A company's market value doesn't change if a split occurs, but the investing psychology around the stock can for some people. The idea is that, even with the ability to buy fractional shares, retail investors may feel priced out when a stock price climbs too high. Buying one share at $1,000 is technically the same as buying five shares at $200, but investors may find the $200 range more approachable.
There are also some cases where a split may help the stock price move higher. Data published by Statista, sourced from Bank of America's Research Investment Committee, found that for four decades, companies that split their stock saw an average total return of more than 25% in the 12 months following the announcement of a split.
Keep in mind that was just an average, so there's nothing that guarantees Micron's stock performance would follow a similar path if the stock is split. To get to its current share price, the stock has already climbed more than 272% on the year, so it's fair to wonder how much of an impact a split would have when there's already been such a massive run.
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What's important beyond a Micron stock split
To reemphasize, there's no way to know whether a Micron stock split will happen in 2026. That's why it's more important to consider the stock's long-term upside potential rather than just a short-term boost from a split.
For its fiscal second-quarter 2026 earnings report, Micron reported record revenue of $23.9 billion, up 196%. That rise came as AI continued to drive massive demand for memory and storage solutions. Micron has been posting record revenue now for four consecutive quarters and expects to do so again in the just-completed quarter. The company still sees considerable opportunities for further growth, as Micron can fulfill only 50% to two-thirds of key customer demand in the medium term.
For what's next, the company reports its fiscal 2026 third-quarter earnings on June 24. If Micron handily beats expectations and gives upbeat guidance for its fourth quarter, that's the bigger story to pay attention to than waiting for a stock split announcement.
