DA Davidson

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   DA Davidson lifts Micron target to $3,000 on AI memory demand

   Analysts led by DA Davidson's Gil Luria raised their Micron price target to $3,000 from $2,100 and reiterated a Buy rating, arguing that AI-driven memory demand will keep the company growing over the next three to five years and that memory will be undersupplied in 2027 and 2028. The report said demand now comes from large US enterprises such as Amazon, Microsoft, Google, Nvidia and Apple, and that longer supply agreements with customers improve visibility. Micron shares rose 4.06% to $1,088 on Oct. 7; the company is expected to start a large buyback in December, when CHIPS Act restrictions on repurchases lapse.

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