Micron Up 195% as Analysts See More Upside

According to Investopedia, one of the hottest AI-related U.S. stocks this year still appears to have room to run. Micron Technology (MU) surged to a fresh all-time high this week as analysts continued raising their price targets ahead of next week's earnings report.

Citi analysts lifted their target from USD 275 to USD 300 on Wednesday—double their estimate from early September—citing a sharp spike in demand for advanced memory chips used to power AI workloads. They noted that accelerating AI model training is driving “significant capital investment,” which could help Micron and other memory makers expand capacity to meet rising demand.

Micron shares briefly jumped more than 4% on Wednesday before closing near USD 264, then eased about 2% on Thursday. Even so, the stock has already soared 195% year-to-date.

As a key memory component partner to Nvidia and AMD, Micron has become one of the major beneficiaries of the AI build-out. It is the top-performing stock in the Nasdaq-100 this year and ranks among the top five gainers in the S&P 500.

Rapid AI infrastructure expansion has triggered a global shortage of high-performance memory. Citi analysts said this has created “unprecedented price hikes,” which they expect will continue boosting Micron’s revenue and profitability.

Deutsche Bank raised its target from USD 200 to USD 280 on Tuesday, stating that Micron is “well positioned to benefit” from the structural shift in the memory market. They also highlighted Micron as “particularly attractive” among memory manufacturers because it is prioritizing profitability over market share in the current cycle.

Morgan Stanley pushed its target from USD 220 to USD 325 last month and called Micron its “top pick” after upgrading the stock in October. The firm expects strong price momentum for memory products to drive solid earnings over the next year, even if pricing stabilizes afterward.

Overall, analysts remain broadly optimistic, though the average target suggests some believe the stock may be near a short-term peak—or waiting for next week's earnings before adjusting forecasts. Visible Alpha data shows 11 analysts have recently updated ratings: 9 maintain a Buy view, while 2 rate the stock as Hold, with an average target around USD 237.