Micron Technology (MU) shares surged past the $1,000 mark for the first time, closing at $1,035.50 after a 6.64% gain, driven by a showcase of next-generation memory and storage solutions at COMPUTEX 2026 and a bullish analyst upgrade. The stock added another 0.44% in pre-market trading Monday to reach $1,044.75, extending a rally that has seen MU climb more than tenfold over the past year.
At COMPUTEX, Micron unveiled its HBM4 36GB 12H memory, designed to boost large-language-model inference throughput by up to 2.6 times for every doubling of bandwidth. The company also highlighted its 256GB SOCAMM2 module, which delivers the highest capacity in its class while using one-third the power and one-third the footprint of standard RDIMMs. Additionally, a 256GB DDR5 RDIMM built on 1-gamma technology was sampled, capable of reaching 9,200 megatransfers per second—40% faster than current volume modules—while cutting operating power by over 40%.
On the storage front, Micron introduced the 9650 SSD as the industry's first commercially available PCIe Gen6 drive, and the 6600 ION SSD now scales to 245TB, reducing rack footprint by 82% versus hard-disk deployments and halving power consumption. These advances position Micron as a critical supplier for AI data centers handling training, inference, and long-context workloads.
Raymond James analyst Melissa Fairbanks responded by more than doubling her price target on MU to $1,100 from $530, maintaining an Outperform rating. Fairbanks based the new target on 10 times her fiscal 2027 adjusted earnings estimate, arguing that the typical memory cycle volatility is being smoothed by long-term supply agreements and unprecedented AI-driven demand. 'It really is “different this time,”' she wrote, noting limited investor pushback despite the stock’s valuation expansion. Micron’s forward price-to-earnings ratio has expanded to 11.4x from just 4.4x in April, reflecting confidence in sustained profitability.
TrendForce added further fuel by upgrading its global memory market revenue forecast for 2026 to $889.3 billion, up sharply from $551.6 billion, and projecting $1.28 trillion by 2027. The firm cited insatiable AI infrastructure spending as the primary driver. Micron is set to report earnings on June 24, with Raymond James remaining constructive on resilient pricing and AI-related demand.
