Micron (NASDAQ: MU) stock surged 5.6% after analyst Yik Ban Chong initiated coverage with a buy rating and $500 price target. The focus is on high-bandwidth DRAM products, with HBM3E chips in demand for Nvidia and AMD GPUs, leading to the highest DRAM prices since 2019. Expect a 56% rise in DRAM prices for fiscal 2026.

With Micron stock up over 360% in the last year, it may still be a buy. Trading at nearly 40 times trailing earnings, the forward earnings projections show a more attractive valuation. Earnings expected to grow by nearly 60% annually over the next five years make Micron stock appealing.

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Read more at Nasdaq: Why Micron Stock Popped Again Today