Core Viewpoint - Micron Technology is expected to benefit from multiple quarters of double-digit price increases for its memory chips, leading to significantly higher earnings potential, particularly driven by demand for AI-related high-bandwidth memory [1][2][4]. Group 1: Stock Performance - Micron stock reached an all-time high, with a record price of 201 and a rise of over 3% to 195.11 during trading [2]. - Following a strong quarterly report on September 23, at least 18 analysts raised their price targets for Micron stock, indicating positive market sentiment [3]. Group 2: Analyst Insights - Morgan Stanley analyst Joseph Moore upgraded Micron stock from equal-weight to overweight and increased the price target from 160 to 220 [1][3]. - Moore acknowledged being late with his upgrade but emphasized the potential for substantial earnings growth due to ongoing price increases [3]. Group 3: Market Demand - Demand for DRAM and NAND memory chips is strengthening, with concerns over supply availability extending through 2026, driven by robust server and storage needs [4]. - The valuation of Micron is based on through-cycle metrics, with AI being a principal driver for higher potential peaks in earnings [4].