Core Viewpoint - Micron Technology's stock is experiencing a rebound, driven by the anticipated long-term demand for memory solutions due to the growth of AI technology, which is expected to increase exponentially with each generation [1][5]. Group 1: Market Demand and Growth - Micron's technology is in high demand from leading GPU manufacturers, with expectations for accelerated demand in 2026 [2]. - Advanced Micro Devices (AMD) is expected to gain market share in AI-focused GPUs, which will drive demand for Micron's HBM4 technology [3]. - The GPU market is projected to grow at a solid double-digit CAGR over the next five to ten years [3]. Group 2: Financial Outlook - Assuming a fair P/E valuation of 15 times, Micron's stock presents a significant value for long-term investors, with potential for a nearly triple-digit stock price increase as consensus forecasts suggest a drop to 8x earnings within two years [4]. - Micron's DRAM business, particularly in data centers (over 50% of Q3 revenue) and HBM markets, is expected to see strong growth, with HBM sales growing more than 50% sequentially in Q3 [6]. Group 3: Stock Price Forecast - The 12-month stock price forecast for Micron is $147.24, indicating an 18.48% upside based on 26 analyst ratings [7]. - Analysts have raised their revenue and earnings forecasts, with over 90% of analysts lifting their quarterly forecasts, setting a high expectation bar for Micron [8]. - The consensus forecasts suggest a 15% upside before the upcoming FQ4 release, with a high-end range adding 35% [10]. Group 4: Market Sentiment - Micron's stock price action in mid-August indicates a rebound and uptrend, with the market poised to set a new long-term high [11]. - The stock price could rise by as much as $20 in the near term and over $60 in the longer term, potentially reaching the $150 to $190 range [12].