Micron Technology's stock surged 5.01% during Friday's intraday trading session, driven by bullish analyst actions and an optimistic outlook for memory chip pricing.

The rally follows significant price target increases from major Wall Street firms. Wedbush Securities raised its target on Micron from $320 to $500, citing "stronger-than-expected pricing performance" with first-quarter pricing significantly exceeding previous expectations. Analyst Matt Bryson noted that Micron's guidance indicates an expected average selling price increase of approximately 30% for its products in the second fiscal quarter, with some DRAM and NAND flash memory contracts seeing triple-digit percentage increases.

Separately, Wells Fargo analyst Aaron Rakers maintained an Overweight rating on the stock and raised his price forecast from $410 to $470, just days before Micron's second-quarter 2026 earnings report. Analysts point to sustained demand recovery in the memory chip sector alongside tightened supply conditions, as well as Micron's continued push into AI infrastructure with new "Monster" Memory chips designed to address AI power and performance bottlenecks.