Micron shares rallied over 5% today after Mizuho analyst Vijay Rakesh dramatically raised the price target from $390 to $480 per share, reinforcing the company's strong positioning in the booming AI semiconductor market.
- The bullish forecast is driven by Rakesh's expectation that NAND memory prices could soar 330% by 2026.
- This surge is anticipated as rising AI-driven demand continues to meet flat production capacity.
- The thesis is supported by rival SK Hynix recently posting record quarterly profits, validating the strong market dynamics.