DA Davidson raised its price target on Micron Technology to $1,500 from $1,000 and reiterated a buy rating, citing a bullish outlook tied to soaring demand for memory chips used in artificial intelligence infrastructure. [1] The firm's analysis points to a structural shift in the memory market, moving away from its historically cyclical nature. [2, 3]
This optimism is fueled by insatiable demand from hyperscale data centers, which has led to Micron's high-bandwidth memory (HBM) capacity being completely sold out for 2026. [3] The sustained supply-demand imbalance is allowing Micron to command strong pricing power, which is reflected in its record gross margins and robust financial performance. [4, 6] The market continues to view Micron as a core beneficiary of the ongoing AI buildout. [1]