Micron Technology shares surge on AI memory demand and analyst upgrades

Micron Technology's stock reached an all‑time high of $1,079 on June 3, driven by a booming demand for high‑bandwidth memory (HBM) used in AI data centers. The company reported second‑quarter revenue of $23.86 billion, up 196% year‑over‑year, and profits soaring 770% to $13.78 billion, with gross margins climbing to 74.7%. Micron plans a $200 billion investment to expand U.S. manufacturing capacity.

After a 13% drop, the stock rebounded nearly 10% in pre‑market trading as analysts upgraded their outlook. Goldman Sachs lifted its price target from $400 to $900, and consensus forecasts project third‑quarter revenue of about $34.5 billion (270% YoY growth) and earnings per share of $19.79 (936% YoY). Micron is one of only three companies worldwide that can produce HBM at scale, and tight supply is expected to keep pricing power and growth momentum strong through 2027.