Micron (MU) Stock Soars to $1,000 Price Target on AI Memory Boom

Key Takeaways DA Davidson launched coverage on Micron (MU) with a Buy recommendation and an industry-leading $1,000 price target Analysts believe artificial intelligence is triggering an extended memory cycle with fundamentally higher demand levels The ambitious $1,000 forecast represents approximately 90% potential appreciation from Micron’s recent close at $524 TD Cowen increased its price objective to $660, emphasizing the sustainability of demand over near-term earnings growth Melius Research launched coverage with a Buy rating and $700 target, projecting the AI-driven memory expansion lasting through 2030 DA Davidson launched its research coverage on Micron (MU) this Tuesday, assigning a Buy rating alongside a $1,000 price objective — establishing a new high-water mark on Wall Street. Micron Technology, Inc., MU This ambitious forecast surpasses the prior peak of $700, established merely 24 hours earlier by Melius Research, and suggests potential gains of nearly 90% from Micron’s most recent closing level of $524. Research analyst Gil Luria presented a thesis that artificial intelligence has fundamentally disrupted conventional memory market patterns. Traditionally, memory sectors have exhibited cyclical behavior — excess capacity accumulates, profit margins deteriorate, and customer demand weakens. Luria contends this traditional framework is now obsolete. “We believe artificial intelligence is creating a longer-than-usual memory cycle as compute deployment and demand generation exist in a positive feedback loop, creating a structurally higher ceiling for memory pricing and demand,” he wrote. Put simply: every successive generation of AI infrastructure doesn’t merely satisfy current requirements — it generates additional demand. This represents a fundamentally different scenario compared to historical cycles. Production Leadership and Contract Stability Luria additionally emphasized Micron’s manufacturing capabilities. The semiconductor manufacturer has ach...