Micron Technology stock fell in early trading Monday despite receiving a bullish analyst rating. The memory chipmaker dropped about 1% after declining nearly 5% on Friday.
Micron Technology, Inc., MU
Phillip Securities analyst Yik Ban Chong started coverage of Micron with a Buy rating. He set a $500 price target for the stock. That represents roughly 21% upside from current levels.
The analyst pointed to strong demand for Micron’s high bandwidth memory products. These chips are critical for AI data centers and advanced computing applications.
Chong believes Micron can take market share from current leader SK Hynix. This shift could happen when Micron’s next-generation HBM4 memory enters full production. The company expects this ramp-up to occur after the second quarter.
Micron recently announced plans to invest $24 billion in Singapore over the next decade. The investment will expand the company’s manufacturing capacity in the Asian nation.
The Singapore announcement prompted Mizuho to raise its price target on Micron. The firm increased its target to $480 from $390. Mizuho maintained its Outperform rating on the stock.
William Blair noted the expansion won’t materially change Micron’s near-term prospects. The investment represents a long-term commitment to manufacturing capacity.
Wall Street analysts show strong support for Micron overall. Of the 44 analysts covering the stock, 38 have Buy or higher ratings. Four analysts rate it Hold, while two rate it Sell.
The average analyst price target sits at $361.85. That’s about 13% below where the stock last traded.
Memory chip stocks have attracted attention due to tight supply conditions. Demand from AI data centers continues to drive expectations for price increases.
SanDisk reported quarterly results last week that beat expectations by a wide margin. The strong performance lifted optimism across the memory chip sector.
Micron stock gained over 45% in January alone. The shares surged 240% throughout 2025.
The company’s HBM4 production timeline will be critical for its competitive position. High bandwidth memory has become essential for AI applications and data center operations.
Phillip Securities’ $500 price target represents one of the highest on Wall Street. The firm’s confidence stems from expected market share gains in the HBM space.
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