Micron Technology NASDAQ:MU stock is in focus after Phillip Securities raised its price target on the memory-chip maker, citing continued strength in DRAM and NAND markets and expectations that industry supply constraints could persist for several years.
The revised target was increased to $1,870 from $530 while maintaining a Buy rating. The analyst said stronger pricing trends and limited industry capacity may continue supporting Micron's earnings outlook as demand for memory products remains elevated across data centers and artificial intelligence applications.
Phillip Securities also raised its fiscal 2027 forecasts for revenue and profit, pointing to improving industry fundamentals. The firm highlighted 16 long-term customer supply agreements valued at approximately $100 billion, suggesting buyers are increasingly prioritizing secure access to memory chips amid constrained supply conditions.
The analyst noted that memory prices have risen sharply over the past year while new manufacturing capacity remains limited. Micron shares have climbed sharply in 2026 as investors continue to bet on sustained demand for memory products tied to artificial intelligence and cloud computing trends.