Shares jumped 5.6% to $719.65 on Monday as Mizuho analyst Vijay Rakesh hiked his price target on Micron from $740 to $800, even as the S&P 500 and Nasdaq both slipped. The move marks Mizuho's second upgrade in two weeks — on May 6, Rakesh had already raised his target from $545 to $740 — signaling rapidly accelerating conviction that AI is reshaping the memory chip business into something investors haven't seen before.

  • Two Price-Target Hikes in 13 Days Tells You How Fast the Story Is Moving. Mizuho cited strong pricing expectations for NAND and DRAM products into the second half of 2026 and 2027.

Rakesh expects Micron's fiscal 2027 revenue and earnings per share to grow by 66% and 80%, respectively, year-over-year. That pace of estimate revision is unusual for any semiconductor name and reflects how quickly AI data center spending is outrunning supply.

  • Micron's Revenue Has Nearly Tripled, and Supply Is Still Sold Out. Revenue climbed from $8 billion in fiscal Q2 2025 to $23.8 billion in the corresponding 2026 quarter.

High-bandwidth memory — a premium product used in AI data centers — is reported to be fully sold out for 2026 under binding contracts , giving Micron rare revenue visibility in an industry historically prone to boom-and-bust swings. For the current quarter, Micron guided revenue of $33.5 billion with a non-GAAP gross margin of approximately 81%.

  • A Samsung Strike Could Tighten an Already Squeezed Market. If Samsung's labor dispute isn't resolved, a general walkout beginning May 21 could last until June 7, and experts believe it would immediately remove 3% of the world's memory-chip supply.

Mizuho expects supply to remain tight into the first half of 2027 and highlights that a potential Samsung strike is looming. For Micron shareholders, a rival's production disruption could push prices higher — but it also introduces volatility.

  • The Stock Has Pulled Back 11% From Its All-Time High, Creating a Test of Conviction. Micron shares recently reached an all-time high of $818.67 before pulling back. The current price of $719.65 sits roughly 10% below the new $800 target. The stock has already soared 135% in 2026 , and with earnings for the May quarter due June 24 , investors face a binary question: is the AI memory supercycle durable enough to justify paying nearly 4x book value, or has the easy money already been made?