Micron Technology’s stock (NASDAQ: MU) has surged 122% over the past six months, doubling in value and becoming a top-performing US equity. The rally is driven by massive demand for its high-performance memory chips from tech giants building AI infrastructure. Financial advisor DA Davidson recently issued a buy rating with a $1,000 price target, arguing the AI boom could propel the stock to double again from its current level near $504.
Micron Technology stock has delivered exceptional returns, doubling investors’ money with a 122% gain over the last six months. The equity opened at $504 this week after rallying nearly 9%, attracting significant buying pressure from both retail and institutional traders.
The Idaho-based company manufactures high-performance memory and data storage products essential for artificial intelligence infrastructure. Micron benefits from sky-high demand as major technology companies spend billions to build out their AI capabilities.
On April 28, 2026, the financial advising firm DA Davidson gave Micron a buy call with a $1,000 price target. This forecast, mentioned in a CNBC report, tops most other Wall Street targets which are clustered around $700.
Analyst Gil Luria wrote in a client note that the market continues to underestimate semiconductors. He stated, “We believe artificial intelligence is creating a longer-than-usual memory cycle as compute deployment and demand generation exist in a positive feedback loop, creating a structurally higher ceiling for memory pricing and demand.”
The firm’s analysis suggests the ongoing AI investment cycle could support another significant price appreciation. If the $1,000 target is reached, a $1,000 investment would theoretically grow to $2,000.
