On June 18, Micron Technology rose 3.46% overnight, trading at $1082.0/share, with turnover of $4.93 million. The stock extended gains amid a broad semiconductor sector rally, with chip stocks rising in after-hours futures trading.

The move was driven by a wave of analyst upgrades. Deutsche Bank raised its target price from $1000 to $1500, maintaining a Buy rating, citing sustained AI-driven storage supply-demand imbalance expected to persist through 2028. Citi also lifted its target to $1200, while TD Cowen raised its target from $660 to $1500. RBC Capital Markets noted the memory upcycle has another five to six quarters of runway, supported by DRAM prices tracking 50% year-over-year growth in Q2 and robust hyperscaler spending.

Micron is scheduled to report fiscal Q3 earnings on June 24, with consensus EPS expectations of $19.40. The stock has gained approximately 260% year-to-date as AI infrastructure buildout intensifies memory chip shortages. Of 47 analysts covering the stock, 44 hold Buy or Strong Buy ratings.

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