Overview
- Micron shares set a new high on Wednesday after the Federal Reserve cut rates by 25 basis points to a 3.5%–3.75% target range, a move seen as lowering the cost of financing capital-intensive fab projects.
- Citi raised its price target to $300 on Wednesday, Deutsche Bank moved to $280 on Tuesday, and Morgan Stanley lifted its target to $325 last month after an upgrade.
- UBS reaffirmed a Buy rating with a $275 target on December 8 ahead of the December 16 earnings report, citing robust AI memory demand and forecasting a potential beat.
- Investopedia reports the stock has more than tripled this year, closing just below $264 at a record, as investors price in tighter supply and stronger pricing for memory products.
- Industry checks highlight spiking DRAM prices and accelerating HBM demand from AI workloads, while some commentary notes Micron is moving away from explicit preannouncements.