Core Viewpoint - Micron Technology is experiencing significant bullish sentiment in the market, with analysts raising price targets amid a strong performance in the semiconductor sector, particularly driven by a global memory-chip shortage fueled by AI infrastructure demands [1][5]. Group 1: Company Performance - Micron's shares recently traded at $382.89, down from a 52-week high of $455.50, but have seen a remarkable increase of 114% from $201.37 on November 20, 2025, to $430.28 by January 28, 2026 [1]. - Analysts predict that Micron's fiscal year 2026 earnings per share (EPS) could reach approximately $33.56, suggesting that the stock may still be undervalued despite its recent price surge [6]. Group 2: Market Dynamics - The current semiconductor market is characterized by a global memory-chip shortage, which is intensifying due to increased demand from AI infrastructure and consumer technology sectors, including smartphones [2]. - The supply-demand dynamics indicate that as supply increases, prices typically decrease, but currently, demand, especially from data centers, is outpacing supply, leading to tighter market conditions [3][4]. Group 3: Capacity Expansion - Micron is planning a substantial investment of approximately $24 billion over the next 10 years to expand its capacity in Singapore, with wafer output expected to begin in the second half of 2028 [4]. - The current market is reacting to immediate supply constraints, with tight memory and high-bandwidth memory (HBM) availability affecting consumer technology [4]. Group 4: Analyst Sentiment - Despite the significant price increase, analysts are becoming more bullish, with several firms raising their price targets for Micron: Mizuho to $480, HSBC to $500, Barclays to $450, and Piper Sandler to $400, all citing strong pricing support due to supply tightness [7].