The higher it rises, the more optimistic people get? Micron breaks the $1,000 mark, Wall Street sees "increasing demand for storage, but no competition at all."

The higher it rises, the more optimistic people get? Micron breaks the $1,000 mark, Wall Street sees "increasing demand for storage, but no competition at all."

Micron Technology’s stock closed above $1000 for the first time, prompting Wall Street analysts to immediately raise their target prices, citing the dual logic of expanding AI demand and limited supply of memory chips.

Micron’s stock closed at $1034.74 on Monday, setting a historic milestone. Raymond James analyst Melissa Fairbanks raised her target price from $530 to $1100 on the same day, expecting AI-driven storage demand and supply shortages to persist through 2027-2028, supporting Micron’s high price levels.

Morningstar analyst William Kerwin told MarketWatch that Micron’s breakthrough above the $1000 psychological level may further stimulate investor enthusiasm. The wave of analysts raising target prices confirms the market's general expectation of more upside for Micron.

"Ever-growing demand for storage, but no competition"

Melissa Fairbanks noted in her report that high-bandwidth memory (HBM) chips are becoming increasingly complex with each new generation of graphics processing units (GPUs), a trend that strengthens Micron’s market position as one of the few HBM suppliers.

She expects that strong AI demand and “limited” supply of memory will likely persist until 2027-2028, supporting Micron’s high prices.

Last week, D.A. Davidson analyst Gil Luria further raised his target price from $1000 to $1500, citing that Micron, SK Hynix, and Samsung virtually monopolize the entire DRAM and high-bandwidth memory market.

Luria stated frankly in his report that he "is not aware of any competition on the horizon"—new entrants would need to build new wafer fabs, a process that takes two to three years, and these high barriers provide existing players with a strong moat.

Meanwhile, Stifel analyst Brian Chin said Nvidia’s upcoming RTX Spark personal computing chip will bring additional incremental demand for Micron. This chip supports higher memory capacity and is more efficient than standard PC processors, so Micron’s memory chips are expected to benefit.

According to a WallstreetCN article, Nvidia has announced the launch of the RTX Spark super chip, marking its official entry into the personal computer processor market. RTX Spark is expected to debut this fall and will power desktop products from manufacturers such as Dell, HP, Lenovo, and Microsoft.

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