Micron Technology shares closed at a record $795.33 on Monday, May 11, after a 6.5% gain in U.S. trading, as investors kept piling into memory-chip stocks tied to AI demand. [1, 2, 3, 4]
The stock has climbed about 178.7% year to date and briefly pushed Micron's market value to nearly $900 billion on May 11. [1, 3, 4] Analysts said growth in AI models is lifting demand for memory chips, especially DRAM and HBM, and making memory a more valuable part of AI infrastructure. [1, 2, 3, 4]
D.A. Davidson analyst Gil Luria reiterated a buy rating and set a $1,000 target price. He said, "更长的上下文会让模型表现更好，而这又会让更大型模型成为可能，形成持续循环的正向效应," and called the market for memory chips "低估了AI时代下记忆体产业的新计算." [1, 3, 4] Deutsche Bank also raised its target price to $1,000 and kept an overweight rating. [2, 4]
The rally has come amid a tightly held supply chain, with Micron, Samsung and SK Hynix described as the main DRAM players. [1, 3, 4] One report said Samsung workers may strike between May 21 and June 7 if wage talks fail, and analysts think that could cut global memory-chip output by about 3%. [5]
On Tuesday, May 12, one report said Micron was down 2.49% in premarket trading after an overnight move of 15.51%, while other reports focused on the Monday close at the record high. [5, 1, 2, 3, 4]
