Meta and Micron tipped as Wall Street's next stock-split stocks

Stock splits have been a notable feature of the AI-driven market rally, lowering share prices to make them more affordable for retail investors. Meta Platforms stands out as the only Magnificent Seven company that has never split its stock, even as fractional-share investing has become more common. With nearly 30% of its shares held by retail investors and a share price near $617, the case for a split is notable.

Micron Technology presents an even stronger nominal case. Its shares closed near $1,017, and more than 26% of its stock is held by retail investors. The company has not approved a split since 2000. Micron's shares have climbed more than 1,100% over the trailing 16 months, driven by its role as an AI-accelerated data center memory provider. Its high-bandwidth memory (HBM) is packaged with graphics processing units for fast data transfer, and demand far outstrips supply.

The question of whether Meta and Micron will split hinges on their boards. For Meta, the decision may rest on whether its high share price is seen as keeping retail investors out. For Micron, fully booked contracts through 2027 suggest its sales growth could continue, which may keep its share price elevated. What remains undecided is whether either board will act.