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New Street Research has upgraded (MU) to Buy with a $1,250 price target, arguing that the company’s current growth story may be breaking away from the traditional boom-and-bust cycles that have defined the memory industry for decades.
Micron shares have surged more than 10x from their Apr 25 lows, while prodn costs have risen only about 25%, according to the firm.
New Street believes the AI-driven memory boom could be structurally different
Current Market Value: $29.99 billion (as of the June 30, 2026 quarter-end filing), yielding an unrealized windfall of nearly $25 billion. Intel is now the single largest public stock holding in Nvidia's $63 billion portfolio. [1, 2]