As Micron's Stock Blows Past $1,000, Wall Street Sees More Gains in Store
Micron stands to benefit from a favorable pricing environment, low competition - and now a new Nvidia chip, analysts say. Micron's stock just notched its first close above $1,000 amid a wave of enthusiasm for the memory-chip maker's ability to capitalize on artificial-intelligence trends.To start, the company could be a beneficiary of Nvidia's new foray into personal-computing chips via its RTX Spark product, Stifel analyst Brian Chin told MarketWatch on Monday.Morningstar analyst William Kerwin told MarketWatch that Micron's stock surge above the $1,000 threshold could be exciting investors. And analysts have been hiking their price targets on the stock, suggesting upside from Monday's close of $1,034.74.Earlier in the day, Raymond James analyst Melissa Fairbanks raised her price target to $1,100 from $530, saying that she expects AI demand and the "constrained" supply of memory is likely to persist through 2027 and 2028, which should allow Micron to sustain high prices.