TD Cowen Lifts Micron Target to $1,500 as AI Memory Demand Outruns Supply
Updated
Updated · CNBC · Jun 15
TD Cowen Lifts Micron Target to $1,500 as AI Memory Demand Outruns Supply
3 articles · Updated · CNBC · Jun 15
Summary
$1,500 is TD Cowen's new price target for Micron, up from $660 and implying 53% upside from Friday's close.
AI-driven demand for DRAM continues to exceed supply, and the bank said stronger CPU demand has reinforced expectations that memory pricing will stay firm into the second half of 2026.
TD Cowen argued Micron's rally is not a typical memory-cycle peak because AI has made memory demand more structural, with high-bandwidth memory supply constrained by production costs roughly three times higher.
Wall Street broadly shares that view: 44 of 47 analysts rate Micron buy or strong buy, while the stock has already surged 244% year to date.