MU
The stock took a breather
Micron didn’t wake up to any company-specific disaster on Thursday. It just got caught in the tech downdraft as investors rotated out of growth and into the safer, boring corners of the market — you know, the financial equivalent of putting on sweatpants after a very loud party. MU fell about 2% while the Nasdaq and tech sector also slipped.
The bigger story: Wall Street still wants more
The more interesting move happened Wednesday. D.A. Davidson’s Gil Luria kept a Buy on Micron and cranked the price target to $3,000 from $2,100. His pitch is basically: AI isn’t just boosting demand for memory chips — it’s changing the whole game.
According to Luria, memory demand could stay ahead of supply through 2027 and 2028 as AI systems keep stuffing themselves with more capacity. That matters because Micron has long been a classic boom-bust chip name. The analyst is arguing it may be graduating from the roller coaster to the escalator.
Why investors should care
A few things to keep on your radar:
- Micron is already up 441% over the past year, so the bar is very much in the stratosphere.
- The stock is still trading above its major moving averages, which says the longer-term trend is intact.
- But momentum is cooling a bit, so this isn’t exactly a “straight line up forever” situation.
Big picture
This is the kind of setup that keeps tech investors glued to the screen: a stock dips on generic market weakness, while analysts keep telling you the long-term story is getting better. In other words, Micron’s not reacting to bad news — it’s just taking a quick sip of water after an absurdly good run.