Micron Technology shares surge on AI‑driven memory demand and analyst upgrades

Micron Technology's stock jumped more than 10% after TD Cowen lifted its price target from $660 to $1,500 and reaffirmed a buy rating, citing strong AI‑driven demand for high‑speed memory chips. Other analysts, including Weiss Ratings, Deutsche Bank, Mizuho and Wedbush, also raised price targets or issued bullish ratings, highlighting the memory‑chip shortage that has propelled Micron’s valuation.

The company recently joined the $1 trillion market‑cap club, reaching that milestone in record time as memory‑chip prices surged amid a supply crunch. Analysts expect AI data‑center build‑outs to keep demand for DRAM and NAND high through at least 2027, though they warn the memory market is cyclical and may ease after 2028 when supply catches up.

Investors are weighing the rapid price gains – a 1,300% rise over five years – against concerns that the current valuation may be expensive if the memory cycle peaks earlier than expected.