Mizuho Analyst Raises Micron Stock Price Target Amid AI-Driven Memory Demand Surge Micron Technology’s stock has surged over 125% year-to-date, fueled by robust demand for memory chips driven by artificial intelligence advancements. Vijay Rakesh, a top analyst at Mizuho, has raised his price target for Micron shares from $545 to $740 while maintaining a “Buy” rating. Rakesh attributes the upward momentum to agentic AI, which he believes is significantly increasing demand for memory and processing power. The analyst’s revised projections highlight the growing importance of AI-driven applications in shaping the semiconductor industry’s trajectory. Rakesh’s research note emphasizes that Micron’s position is strengthened by both short-term and long-term factors. In the near term, he points to rising demand for traditional DRAM and NAND memory, as AI applications continue to expand into consumer markets. This has led to higher pricing power for memory providers, boosting profitability. Looking ahead, Rakesh forecasts substantial growth in Micron’s revenue and earnings. For Fiscal 2026, 2027, and 2028, he raises revenue estimates to $109 billion, $181 billion, and $179 billion, respectively, from previous forecasts of $108 billion, $165 billion, and $164 billion. Similarly, EPS estimates are elevated to $58.16, $104.74, and $94.40, up from $57.21, $95.04, and $85.35. A key focus of Rakesh’s analysis is the rapid expansion of high-bandwidth memory (HBM), a critical component for AI infrastructure. He projects HBM revenue to reach $19.1 billion in Fiscal 2026, $30.7 billion in 2027, and $35.7 billion in 2028. This represents a 40% compound annual growth rate (CAGR), with HBM revenue expected to surpass $100 billion by 2028. Rakesh underscores that AI demand remains strong, with momentum anticipated to persist through at least 2027.#ai #micron_technology #vijay_rakesh #mizuho #hbm
