Bernstein has raised Micron Technology’s price target to $330 from $270, with the stock trading near $315. The upgrade follows Micron’s impressive 262% return last year, outperforming AI chip giants like Nvidia. Wall Street believes memory pricing is growing rapidly due to AI demand, positioning Micron with strong pricing power.

Analysts like Rosenblatt, BofA Securities, JPMorgan, Morgan Stanley, and HSBC have set price targets for Micron, expecting further upside. Bernstein predicts a 20-25% sequential increase in DRAM prices, driven by high demand from data centers for AI workloads. Micron’s strong performance in DRAM and NAND sales supports this outlook.

Micron’s fiscal 2026 capital expenditure target of $20 billion signals its commitment to expanding memory capacity. CEO Sanjay Mehrotra expects tight memory markets to persist beyond 2026. Micron’s focus on AI-facing businesses like Cloud Memory, with a 66% gross margin, underscores its success in meeting demand.

Despite Micron’s record-high stock price, analysts remain positive but selective. The company’s execution, pricing power, capital spending discipline, and AI-driven demand are key factors driving the bull case. Micron’s outlook remains strong, contingent on delivering results amidst high expectations.

Read more at Yahoo Finance: Top analyst resets price target on Micron stock