The Nasdaq 100 crossed the 30,000-point threshold during Tuesday's intraday session as a powerful semiconductor rally swept across Wall Street, led by Micron Technology Inc.
(NASDAQ:MU), with shares that surged 18% — putting the stock up more than 200% year-to-date and on track for its best trading day since April 2025.
The move came as Wall Street analysts continued lifting expectations for AI-related spending by hyperscalers, triggering a fresh wave of price-target hikes across companies tied to artificial intelligence infrastructure. • Micron Technology stock is approaching key resistance levels.
What's driving MU to record levels?
UBS analyst Timothy Arcuri lifted Micron's price target to $1,625 from $535, the highest forecast on Wall Street, calling for $100-plus EPS power between 2027 and 2029 driven by AI memory demand.
