Overview
- Micron began building a double‑story wafer fab at its Singapore NAND complex, a project planned at about $24 billion over 10 years with production targeted for the second half of 2028 and roughly 1,600 new jobs.
- HSBC lifted its Micron price target to $500 with a Buy rating, citing sharply higher DRAM prices and forecasting Q2 FY2026 operating profit of $12 billion on $20 billion in sales.
- William Blair initiated coverage at Outperform and Stifel started at Outperform, both highlighting a multi‑year upcycle as AI workloads strain HBM and DRAM supply and make memory a bottleneck.
- Stifel projects Micron’s HBM revenue to grow about 164% in fiscal 2026 and 40% in fiscal 2027, while noting risks such as intensifying HBM competition from Samsung and high capital spending.
- Jim Cramer said Micron faces a shortage that cannot be met and urged investors to consider semiconductor equipment makers like ASML, Applied Materials, KLA, and Lam Research as a steadier way to play capacity expansion.