Micron Stock Forecast Boosted Amid AI Memory Boom

Wall Street is rapidly adjusting its outlook on Micron (MU) as the chipmaker emerges as a key beneficiary of the AI infrastructure boom. Stifel raised its price target to $145 from $130 following a record-breaking earnings report, with analysts suggesting even this upward revision may underestimate the company's potential.

Micron's fiscal Q3 revenue soared to $9.3 billion, significantly surpassing expectations, while Q4 guidance projects an astonishing $10.7 billion - a 15% sequential increase that defies historical cyclical patterns in the memory chip sector. The surge is driven by unprecedented demand for high-bandwidth memory (HBM) and DRAM products, with HBM sales nearly doubling quarter-over-quarter.

The AI revolution is rewriting the rules for memory chip manufacturers, transforming what was traditionally a cyclical business into a growth story. Micron's product portfolio, particularly its HBM offerings, positions it at the forefront of this structural shift in semiconductor demand.