TLDR
- Phillip Securities gives Micron Buy rating with $500 price target on strong HBM demand
- Analyst expects Micron to steal SK Hynix market share when HBM4 ramps post-Q2
- Stock drops 1% Monday, down 5% Friday despite bullish analyst call
- Micron commits $24 billion to Singapore manufacturing expansion over 10 years
- 38 of 44 Wall Street analysts rate stock Buy or higher
Micron Technology shares continued sliding Monday despite fresh analyst optimism. The stock fell roughly 1% after dropping nearly 5% Friday.
Micron Technology, Inc., MU
Phillip Securities kicked off coverage with a Buy rating and $500 price target. Analyst Yik Ban Chong sees roughly 21% upside potential from current levels.
The bullish stance centers on Micron’s high bandwidth memory products. These chips face surging demand from AI data centers and advanced computing needs.
Chong believes Micron will capture market share from industry leader SK Hynix. The shift should materialize when Micron’s HBM4 memory hits full production after Q2.
Why Investors Aren’t Buying the Rally
The negative price action seems odd given the positive analyst coverage. But investors appear to be taking profits after massive gains.
Micron stock jumped over 45% in January alone. Shares rocketed 240% throughout 2025. The pullback may simply reflect natural consolidation.
The company just announced a major manufacturing expansion. Micron plans to invest $24 billion in Singapore over the next decade.
Mizuho responded by lifting its price target to $480 from $390. The firm kept its Outperform rating intact. William Blair cautioned the expansion won’t boost near-term results.
Wall Street Remains Confident
Analyst support for Micron stays strong across the board. Out of 44 analysts tracking the stock, 38 rate it Buy or better. Four say Hold, and two recommend Sell.
The consensus price target lands at $361.85. That’s about 13% below Friday’s closing price. Phillip Securities’ $500 target ranks among Wall Street’s highest.
Memory chip stocks have caught fire on tight supply conditions. SanDisk crushed earnings estimates last week, fueling sector enthusiasm.
AI data center demand continues driving expectations for memory price increases. This dynamic should benefit Micron’s revenue and margins.
HBM4 Timeline Critical for Competition
Micron’s next-generation HBM4 production schedule will determine its competitive position. High bandwidth memory has become essential for AI workloads.
The company’s ability to ramp production efficiently matters for market share gains. Execution on the HBM4 rollout could justify the bullish price targets.
Phillip Securities’ $500 target reflects confidence in Micron’s HBM strategy. The firm expects the company to chip away at SK Hynix’s dominant position.
Mizuho’s raised target of $480 also signals optimism about long-term prospects. The Singapore investment strengthens Micron’s manufacturing foundation.
Memory pricing trends will play a key role in stock performance. Tight supply and strong AI demand support higher chip prices going forward.
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Source: https://blockonomi.com/micron-mu-stock-phillip-securities-sets-500-price-target-on-hbm-demand/