On August 17, Micron Technology rose 3.39% in pre-market trading, trading at $1003.0 USD/share, with turnover of $92.31 million. The storage chip sector continued to strengthen broadly.

On the news front, New Street upgraded Micron Technology's rating from Neutral to Buy, significantly raising the target price from $470 to $1250. According to FactSet, the stock's average analyst rating is Buy with a mean price target of $1549.19. Meanwhile, Q2 holding reports from JPMorgan, UBS, and Morgan Stanley all revealed substantial position increases in Micron, with JPMorgan listing it as its top buy. UBS placed both Micron shares and its call options among its top five purchases for the quarter.

Additionally, the broader storage sector rally provided momentum, as SanDisk's better-than-expected guidance earlier drove a 35% weekly gain, creating sector-wide resonance. Micron also announced a $250 million Micron Ventures Paradigm Fund targeting next-generation AI investments, raising its total venture capital commitments to $550 million.

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