Bank of America (BofA) upgraded its Micron (NASDAQ: MU) stock price target from $950 to $1,500 on June 23 as part of its new list of top five themes that will drive semiconductor sales.
At $2,184 for SanDisk (NASDAQ:SNDK | SNDK Price Prediction) and $1,134 for Micron Technology (NASDAQ:MU), both warrant scrutiny.
Global equity markets woke up to a severe shock on the morning of June 23, 2026. South Korea's KOSPI index plunged 10%, triggering a market-wide trading halt and delivering the third-worst regional decline of the calendar year.
Shares of SanDisk (NASDAQ:SNDK | SNDK Price Prediction) are leading a sharp memory-chip selloff Tuesday morning session, with SanDisk stock down 11% to $2,027.50.
Micron Technology (MU) has delivered a staggering 817% one-year return, now surpassing even Nvidia's performance over five years. This should give pause to any Micron bull. Industry analysis suggests otherwise. DRAM supply remains tightly constrained by oligopolistic discipline and physical manufacturing limits, capping global expansion at 20% annually for the medium term. A detailed dive into the operating metrics of Micron compared to Nvidia explain the past decade, and project Micron's future earnings power permitted by its fixed-cost business model.
Micron shares continue to surge. Capacity remains tight and prices remain high as HBM continues to strangle the supply chain. Despite the run-up, I think MU stock has more room to run.
Micron's stunning performance this year could be about to get even better.
MU heads into fiscal Q3 2026 earnings with expectations for sharp revenue growth, strong margins and continued AI-driven memory demand.
For investors seeking exposure to one of the key enablers of the AI revolution, Micron (MU) remains a stock worth watching ahead of its Q3 results on Wednesday, June 24.
Analysts are watching to see the impact of a new memory-saving technology, as well as the timeline for additional manufacturing capacity.
Micron Technology (NASDAQ:MU | MU Price Prediction) has gone vertical.
Micron Technology said on Monday it has signed an agreement with Anthropic that includes supply of memory and storage products, and a strategic investment in the IPO-bound AI company's latest funding round.