TLDR
- Bernstein raised Micron’s price target to $330 from $270 as shares trade near $315 following a 262% gain in 2025
- Memory chip shortage labeled “unprecedented” by Samsung executives as AI infrastructure demand outpaces production capacity
- Wall Street price targets range from $300 to $500, with analysts citing sustained pricing power through 2026 and into 2027
- Manufacturers shifting production to high-bandwidth AI memory creates supply constraints in smartphones and consumer electronics
- CEO Sanjay Mehrotra expects tight memory markets to persist past 2026, supporting continued pricing strength
Micron Technology stock climbed after Bernstein raised its price target to $330. Shares currently trade near $315, approaching record highs.
The memory chipmaker delivered 262% returns in 2025. That performance crushed most semiconductor stocks during the same period.
Micron gained over 72% in the past three months alone. Meanwhile, many AI chip stocks posted flat returns.
Memory Chip Prices Surge on Supply Crunch
Bernstein analysts point to tight supply and rising demand as key drivers. Memory chip prices continue climbing as production struggles to keep pace.
Samsung co-CEO TM Roh called the shortage “unprecedented” in a Reuters interview. Industry leaders warn constraints could last months or years.
AI infrastructure buildout is consuming available memory supply. Manufacturers are diverting production capacity toward high-bandwidth memory for AI servers.
This shift creates shortages in other sectors. Smartphone chips and USB drive components face reduced availability.
Prices doubled in some segments since February 2024, according to TrendForce. Traders expect further gains as demand outstrips supply.
Memory chipmaker stocks rallied across the board Monday. SK Hynix jumped 3% while Samsung gained 7.5%.
Western Digital, Applied Digital and Seagate rose over 3%. Micron added 2% in early trading.
Wall Street Sees Continued Upside for Micron Stock
Multiple analysts maintain bullish outlooks despite Micron’s strong rally. Price targets now range from $300 to $500.
Rosenblatt holds the highest target at $500, implying 58.7% upside. The firm says AI transformed memory into essential infrastructure.
JPMorgan and Morgan Stanley both set $350 targets. Their analysts cite the AI-memory supercycle and strong earnings power through 2027.
HSBC initiated coverage with a $330 target at Buy. KeyBanc maintains a $325 target with Overweight rating.
Bank of America upgraded Micron to Buy with a $300 target. That sits slightly below current prices but marks an increase from their prior $250 forecast.
CEO Sanjay Mehrotra expects memory markets to remain tight past 2026. That timeline suggests extended pricing advantages.
Analysts from Morningstar and J.P. Morgan predict the “supercycle” could persist into 2027. Memory markets typically swing between oversupply and shortage.
The current cycle combines unusual demand strength with production bottlenecks. Samsung shares more than doubled in 2025 while SK Hynix jumped nearly fourfold.
Micron benefits from pure-play exposure to memory chips. The company sells the infrastructure layer that enables AI computing rather than competing in GPUs.
That positioning provides pricing leverage as supply constraints continue. Data center demand keeps outpacing production capacity across the industry.
