Overview
- Some analysts raised Micron price targets to $600 and higher, saying the stock still has near-term room to run.
- Micron shares have climbed well over 500% in the past year as the company sold more memory and storage and raised prices.
- Demand from AI model rollouts has strained supply, and several analysts expect shortages to last into the middle of next year.
- Micron reported a 196% growth rate in its most recent quarter as tight supply let it charge more for its chips.
- Risks remain because memory is a cyclical business, and gains could fade if new supply cools prices, with the stock trading near 21 times earnings.