Micron Stock on Track to Reach $500, Analyst Predicts 80.7% Upside Potential

Micron Technology (MU) stock has surged 216.7% YTD, with many analysts raising target prices, including Rosenblatt Securities at $500, an 80.7% upside from current levels. The company reported exceptional Q1 results, with revenue, gross margin, and EPS well above guidance. AI-driven data center expansion is reshaping memory demand, with Micron's HBM portfolio benefiting from increasing memory and storage content per server. The HBM total addressable market is projected to increase at a 40% annual rate through 2028, reaching $100 billion by 2028, two years earlier than previously anticipated.