You Missed Micron’s 811% Run — but There’s Still 40% More Upside, According to Wall Street

The AI roar has created a tiny radical of companies that beryllium astatine the halfway of an tremendous spending wave. Most investors instantly deliberation of Nvidia (NASDAQ:NVDA) erstwhile they perceive that story. Yet representation chips person softly go conscionable arsenic captious to AI infrastructure arsenic GPUs. 

Every AI server requires monolithic amounts of DRAM and high-bandwidth representation (HBM), and proviso remains choky adjacent aft a twelvemonth of grounds production. That displacement has transformed Micron Technology (NYSE:MU) from a cyclical representation shaper into 1 of the market's biggest AI winners. The banal has already delivered bonzer gains, but Wall Street believes the communicative whitethorn not beryllium finished.

An 811% Gain Doesn't Mean The Opportunity Is Gone

Micron opened trading connected this day 1 twelvemonth agone astatine astir $118 per share. Twelve months connected and the banal trades astir $1,075, an 811% instrumentality that turned a $10,000 concern into much than $91,000.

Most investors would presume that benignant of determination leaves small upside remaining. TD Cowen disagrees. The steadfast raised its terms people connected Micron to $1,500 from $660 portion maintaining its Buy rating. That people implies astir 40% upside from existent levels. The firm's expert squad pointed to stronger-than-expected AI request and a longer play of favorable representation pricing arsenic the cardinal drivers down the increase.

Notably, TD Cowen is not alone. Cantor Fitzgerald besides carries a $1,500 target, portion Susquehanna has gone adjacent higher with a $1,750 target.

mu

Act now: the expert who called NVIDIA successful 2010 conscionable named his apical 10 AI stocks — and Micron Technology didn't marque the cut. Grab the names FREE today.

The Memory Cycle Looks Different This Time

Memory has historically been 1 of the semiconductor industry's astir cyclical businesses. Prices rise, manufacturers grow capacity, proviso catches up, and prices fall. That's the signifier investors person seen for decades.