TD Cowen's Krish Sankar on new Micron price target: Demand is increasingly strong and it is rerating - CNBC

According to CNBC, TD Cowen analyst Krish Sankar has raised the price target for Micron Technology, citing increasingly strong demand and a re-rating of the company. This reflects a broader recovery i... Read original →

Micron’s revised price target signals AI infrastructure has moved beyond hype into real volume deployment. Technically, surging HBM3E and GDDR7 demand is accelerating equipment and material qualification cycles while pushing server platforms toward CXL-based memory architectures. On compliance, U.S. export controls on China raise Micron’s Southeast Asia capex in the short term but strategically redirect its Taiwan, China and Japan fabs to high-margin AI memory, optimizing global capacity allocation. With Samsung pausing Xi’an expansions and SK Hynix narrowing focus on AI DRAM, Micron is aggressively capturing North American cloud contracts. Over the next 18 months, as AI models scale to trillion-parameter regimes, memory bandwidth will become the critical bottleneck—Micron’s valuation will structurally rerate if it maintains yield leadership and deepens integration with NVIDIA’s next-gen GPU ecosystem, transcending its cyclical semiconductor label.