UBS analyst Timothy Arcuri just tripled his price target on Micron Technology. The new number is $1,625, up from $535, and it represents the largest single jump in Arcuri’s target history for the stock.
Micron shares responded accordingly, surging roughly 8-12% in premarket trading to sit near $751. That puts the stock up a staggering 706% over the past year.
The AI memory thesis, supercharged
The core argument behind the upgrade is straightforward: artificial intelligence needs memory, and Micron makes the kind of memory AI needs most.
High-bandwidth memory, or HBM, is the critical component that sits alongside GPUs in data center accelerators. Without enough HBM, even the most powerful chips are bottlenecked.
