Why Micron Stock Is Skyrocketing Today

Core Viewpoint - Micron Technology's stock is experiencing significant gains due to bullish analyst coverage and positive market sentiment regarding high demand for memory chips, particularly in AI applications [1][3]. Group 1: Stock Performance - Micron's stock price increased by 9.7% as of 2:45 p.m. ET, with a current price of $411.43, reflecting a market cap of $420 billion [1][4]. - The stock's performance contrasts with flat trading for the S&P 500 and Nasdaq Composite indices [1]. Group 2: Analyst Coverage - Deutsche Bank has reiterated a buy rating for Micron and raised its one-year price target from $300 to $500 per share, indicating a potential upside of approximately 22% [3]. - The favorable outlook for margins is attributed to high demand for AI memory chips [3]. Group 3: Market Demand - The chief technology officer of Samsung Electronics' chip unit expressed expectations for high demand for memory chips to continue through 2026, benefiting both Micron and Samsung [5]. - The demand for memory chips, particularly for AI processors and data center applications, is anticipated to drive sales and earnings growth for the industry [5].