Micron Technology (MU) became one of the world’s most valuable companies in 2026, but not too long ago, it was a four-person consulting firm operating out of the basement of a dental office in Boise, Idaho.
Now, it has millions of owners, including company executives, institutional investors like hedge funds, and individual investors who own shares either directly or through ETFs
Over the past four decades, the semiconductor manufacturer has pioneered major innovations in DRAM system memory, high-density storage, and high-bandwidth memory for large-scale AI models. Micron eventually outgrew its basement headquarters, building its first fabrication plant in Idaho before expanding into Texas, New York, and, later, around the world. The company’s latest earnings report underscored sizzling demand for the memory powering AI infrastructure — particularly High Bandwidth Memory (HBM) — helping propel Micron’s shares nearly 1,000% between June 2025 and June 2026.
But its success hasn’t always been a smooth ride. The semiconductor industry has been one of Wall Street’s most volatile sectors, and Micron’s shareholders have weathered both extreme highs and crushing lows. Yet many of its biggest investors have remained firmly committed.