Core Viewpoint - Mizuho Securities has increased its price target for Micron Technology (MU) from $155 to $182, maintaining an "Outperform" rating, driven by strong demand for High Bandwidth Memory (HBM) and AI applications [1] Group 1: Demand and Market Dynamics - Mizuho anticipates stronger orders for Nvidia's new GB300 chips, which require advanced memory solutions, with an estimated 25% of Nvidia's July quarter shipments being GB300 chips, potentially exceeding 50% in the October quarter [2] - The improvement in supply-demand dynamics in both DRAM and NAND memory markets is noted, with recent capacity cuts by major suppliers leading to a 20-30% increase in memory prices from current levels [3] Group 2: Company Positioning and Performance - Micron is one of only two qualified suppliers for next-generation HBM4 technology, with initial samples shipped to customers for a potential launch in late 2026, indicating strong positioning in the AI-driven memory market [4] - In fiscal Q3, Micron reported revenue of $11.2 billion, exceeding prior guidance of $10.7 billion, with gross margins expanding to 44.5%, surpassing estimates of 42% [5] - The revenue growth is attributed to pricing strength rather than volume increases, reflecting favorable supply-demand dynamics and strong demand for high-performance memory solutions driven by AI applications [6][7]