What Happened?
Shares of memory chips maker Micron (NYSE: MU) jumped 5.4% in the morning session after a flurry of Wall Street analysts raised their price targets, citing immense demand for the company's high-performance memory chips used in artificial intelligence.
Multiple research firms showcased their confidence in Micron's trajectory. Wolfe Research boosted its price target to $180, while UBS and Mizuho set even higher targets of $185 and $182, respectively. Analysts from Rosenblatt, Susquehanna, and Deutsche Bank also echoed this bullish sentiment, raising their own targets and maintaining positive ratings. The core reason for this optimism revolved around the surging demand for AI infrastructure. Micron stood as a key supplier of high-bandwidth memory (HBM) for top-tier platforms like Nvidia's Blackwell GB200. This high-performance memory is essential for running large-scale AI applications. Demand was so robust that Micron's HBM production for 2025 was already sold out, with a strong outlook extending into 2026.
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What Is The Market Telling Us
Micron’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 6 days ago when the stock gained 4.7% on the news that a Citi analyst raised the company's price target, citing strong demand for its memory chips driven by the artificial intelligence boom.
Citigroup analyst Christopher Danely maintained a 'Buy' rating on the stock while increasing the price target to $175 from $150. The move reflects growing confidence in Micron's position as a key beneficiary of the AI revolution. Analysts point to increased demand for dynamic random-access memory (DRAM) chips and high-bandwidth memory (HBM) products, which are essential components for AI infrastructure. The positive analyst action contributed to the stock's recent momentum, which has seen shares reach new all-time highs.
Micron is up 92.5% since the beginning of the year, and at $168.09 per share, has set a new 52-week high. Investors who bought $1,000 worth of Micron’s shares 5 years ago would now be looking at an investment worth $3,313.
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