Overview
- Micron says demand for high‑bandwidth memory tied to AI has outstripped supply, with capacity effectively sold out into 2026, supporting higher prices and margins.
- On Jan. 27 the company began building a roughly $24 billion wafer fab in Singapore, with output slated for the second half of 2028 and integration with its nearby HBM packaging site.
- HSBC lifted its price target to $500 with a Buy rating, William Blair initiated at Outperform, and the Street consensus stands at Strong Buy following record revenue signals and rising DRAM prices.
- Cramer cautioned latecomers against chasing memory stocks after a multihundred‑percent run and pointed investors to equipment makers such as ASML, Applied Materials, KLA, and Lam Research as an alternate way to play capacity growth.
- Micron is committing multi‑year capex across U.S. and Asia projects, including New York and Boise builds that ramp into 2027, while shares still trade near low‑teens forward earnings despite the rally.