Micron Shares Hit 52-Week High After Barclays Raises Target to $1,175
MU•Shares of Micron surged to a 52-week high of $956.16 after Barclays raised its price target to $1,175 from $675, implying 28% upside and maintaining an Overweight rating. The chipmaker hit a $1 trillion market capitalization after a 19% share surge, reflecting an 863% year-over-year rally driven by AI demand.
1. Barclays Raises Price Target
Barclays hiked its price target on Micron to $1,175 from $675, maintaining an Overweight rating and citing memory and storage as the most attractive vertical below accelerators. The analyst projects continued pricing gains as the market remains supply-constrained through 2027.
2. Shares Reach 52-Week High
Micron’s shares climbed over 3% to an intraday peak of $956.16, marking a 52-week high and pushing its market capitalization past $1 trillion after a single-day 19% increase. This rally capped a 12-month gain of 863% tied to booming semiconductor demand.
3. Rally Driven by AI Demand
The year-over-year stock appreciation has been driven by surging demand for artificial intelligence applications and a persistent supply-demand imbalance in the memory and storage market. Retail investor sentiment remains overwhelmingly bullish on further gains.
