Micron Technology surges to record high amid AI‑driven demand and analyst upgrades

Wall Street analysts continue to favor Nvidia over Micron, citing Nvidia’s control of more than 90% of AI‑training compute and labeling Micron’s memory chips as commodity‑type products. Micron Technology (MU) is seen as overvalued by many analysts, with a current fair‑value estimate around $949 versus a share price near $1,134, suggesting a premium of roughly 16%.

Investors view Micron’s upcoming earnings on June 24 as a barometer for the broader AI rally. The stock has climbed about 305% year‑to‑date, hitting a fresh record close of $1,133.99 and rising 8.7% on the day. Analysts from Wedbush, Rosenblatt and Stifel sharply raised price targets—up to $1,500—driven by surging DRAM and NAND pricing and sustained AI‑related demand. Expectations for the quarter include a revenue jump of roughly 270% and profit growth of about 930% versus a year earlier, powered by expanding data‑center demand.

Apple’s announced price hikes for its devices, citing rising memory‑chip costs, further reinforce the narrative of tight supply and strong pricing power in the semiconductor market.