Micron shares crossed $1,000, up 700% in a year, as AI memory demand sells out 2026 supply. Ondo Finance launched a tokenized version on Ethereum. Alpha Score 70.
Micron Technology shares crossed $1,000 in early July, up nearly 700% from a year ago. The driver is AI memory demand. The company's entire 2026 HBM supply is sold out. Meanwhile, a tokenized version of the stock launched on Ethereum.
Micron’s high-bandwidth memory chips, the HBM3E and next-gen HBM4, are essential for Nvidia’s AI accelerators. Without them, large language models cannot process data fast enough. The company’s fiscal Q3 2026 earnings showed net income roughly 15 times higher year-over-year. Management confirmed every HBM chip planned for 2026 already has a buyer.
The stock’s run has sparked split talk. Micron last split shares in May 2000, a 2-for-1. That was over 26 years ago. Apple has split four times. Nvidia executed a 10-for-1 in 2024 after its own AI surge. Micron management has not signaled any intention to follow.
Ondo Finance, a tokenized real-world asset protocol, launched MUon on Ethereum. The token gives holders economic exposure to Micron shares without a brokerage account or standard settlement cycles. MUon holders do not own Micron stock directly. They hold a tokenized representation that tracks the share price. The legal distinction is real – direct ownership comes with dividends and voting rights. For an investor in a country with restricted market access, the practical effect is similar to owning a slice of MU.
For crypto-native traders, MUon sits in a growing category of products that blur the line between equity investing and on-chain trading. Getting exposure to a Nasdaq-listed semiconductor company through an Ethereum wallet is either a genuinely useful bridge or a regulatory grey area, depending on jurisdiction.
AlphaScala’s model scores Micron at 70 out of 100, a Moderate rating. The full breakdown is on the MU stock page.
MUon launched without fanfare. Its daily volume is small relative to Micron’s $100 billion market cap. Whether it scales depends on demand from outside the U.S. and on how regulators treat claims written onto a blockchain.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.