Micron Technology stock reached a new intraday record high of $1,046.97, propelling the company into the $1 trillion market capitalization club. Analyst firm Raymond James increased its price target for Micron from $530 to $1100, citing unprecedented demand and sold-out supply for years ahead. The report noted that while geopolitical tensions pose supply chain risks, investor pushback remains limited.
Micron stock achieved a new intraday all-time high price of $1,046.97. This performance elevated the company into the exclusive $1 trillion market valuation group.
Raymond James analysts have significantly raised their price target for Micron from $530 to $1100. The firm issued this prediction weeks before the company’s scheduled earnings report on June 24, 2026.
Analyst Melissa Fairbanks stated that “MU has been among the most popular topics.” She added, “While the share price and multiple continue to reach new highs, we note limited pushback among the investor base.”
The analysis highlighted that the market is experiencing unprecedented demand. Fairbanks noted that several clients have made substantial simultaneous investments in Micron.
Analysts recently visited South Korea and Taiwan to meet with Samsung, SK Hynix, and other supply chain companies. They found that supply is already sold out for the next several years, with pricing remaining strong.
Customers are now providing much clearer long-term visibility into future demand. This clarity supports the bullish outlook presented in the report.
The ongoing U.S.-Iran conflict presents a potential risk to the supply chain. Failed peace talks and another blockage of the Strait of Hormuz could pressure the stock.
Raymond James analysts do not appear concerned about near-term demand slowing or prices dropping. However, they acknowledge that supply could become a challenge.
