Micron shares hit record high after analysts raise target price
After bank analysts raised their stock target price, Micron Technology's stock price climbed to a historic high in early trading on Monday.
With the rise of AI technology, Micron Technology's stock price soared due to the increasing demand for high bandwidth memory (HBM).
After bank analysts raised their stock target price, Micron Technology's stock price climbed to a historic high in early trading on Monday. Analysts point out that with the rise of artificial intelligence technology, the company is in a favorable position for producing high bandwidth storage.
Analysts have raised the target price of Micron Technology from $120 to $144 and reiterated their "buy" rating. In addition to Micron Technology, Marvell and AMD are also expected to benefit from the AI boom.
Analysts point out that due to the high bandwidth memory required by AI technology, Micron Technology has the potential to rapidly expand its HBM market share.
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