Deutsche Bank raised its Micron Technology price target to $1,000. This matches the highest forecast on Wall Street. The bank maintains a Buy rating on the stock.
The AI-driven storage chip boom is fundamentally reshaping the cyclical memory industry. D.A. Davidson set a similar $1,000 target in late April. Micron shares closed at a record high of $795.33 on Monday.
The stock gained 6.5% during the session. Increasing AI model complexity drives rapid growth in market demand for memory. Potential supply disruptions at competitor Samsung also support the positive outlook. Labor unrest at Samsung could impact global chip availability.