Why Micron Stock Rocketed to a Record High Today

Micron Technology's stock surged 10.43% after TD Cowen analyst Krish Sankar raised his price target from $660 to $1,500, citing strong AI-driven demand for memory chips. Sankar expects agentic AI to drive sustained demand for memory through the second half of 2027, with Micron benefiting from multiyear customer agreements and pricing power. The stock has gained 1,314% over the past five years.