Why Micron Stock Is Surging: Sold-Out AI Memory and a $1,750 Price Target War - Stocks Down Under

Micron Technology's stock surged recently due to its dominant position in high-bandwidth memory (HBM), a critical component for AI computing. With AI demand soaring, Micron has sold out all its HBM pr... Read original →

Micron’s sold-out HBM capacity reflects the inescapable 'memory wall' in AI scaling, triggering cascading effects across the tech stack—forcing TSMC to expand CoWoS packaging and accelerating co-design of sub-3nm logic with HBM3e. Yet U.S. export controls have shifted production to Japan and India, inflating costs by 15–20% and eroding pricing flexibility. With SK Hynix and Samsung leveraging superior TSV stacking yields to lock in NVIDIA GB200 sockets, Micron risks high-end marginalization if it misses its Q4 2026 target for 12-layer HBM volume ramp. Over the next 18 months, supply-demand imbalances may fuel speculative inventory hoarding, but any slowdown in AI datacenter capex will trigger a sharper memory downturn than historical cycles. At a $1.2 trillion valuation, two years of growth are already priced in; without clear evidence of deep customer commitments and sustained gross margins in the June 24 earnings, a sharp correction is likely.