Micron Stock Hits 52-Week High on Bullish AI Chip Demand Forecast

Micron (MU) stock price reached a new 52-week high due to a Buy rating and $144 price target from top Bank of America Securities analyst Vivek Arya

Arya believes Micron will benefit from surging demand for AI, especially its high-bandwidth memory (HBM) chips

HBM market expected to grow at 48% CAGR to over $20B by 2027, with Micron's share rising from <5% to mid-20%

Expansion of AI into smartphones, PCs and other devices should drive memory chip demand and support Micron's growth

Wall Street analysts are strongly bullish on Micron overall with a $129.96 average price target