Overview
- Major Wall Street firms sharply raised price targets this week, with Morgan Stanley more than doubling its target to $1,050 and Raymond James and Susquehanna lifting theirs into four‑figure territory.
- Micron reported record fiscal Q2 sales, margins, earnings and free cash flow, and Nvidia certified Micron high‑bandwidth memory for its AI accelerators, validating the company’s role in AI data centers.
- The stock has climbed dramatically in recent months, pushing Micron’s market value above $1 trillion as investors price a prolonged AI‑driven memory shortage.
- Shares fell about 5% on Friday after stronger‑than‑expected U.S. jobs data raised investor concern that higher interest rates could damp demand for tech stocks.
- Analysts warn that tight HBM and DRAM supply, competitive moves by Samsung and SK Hynix, and Micron’s June 24 earnings are the next key catalysts that will determine whether elevated prices and margins persist.