Micron stock (NASDAQ: MU) is among the top-performing equities in the US market, having doubled in price over six months. Traders who took an entry position after October 2025 are all in profit. For the uninitiated, MU surged 122% in the last six months, literally doubling investors’ money in a short period. The stock is attracting huge buying pressure, with both retail traders and institutional clients accumulating MU.

Why Did Micron Stock Rise More Than 100%?

The Idaho-based Micron Technologies is at the center of AI growth, as the company manufactures high-performance computer memory (HPU) and data storage products used by tech titans building their AI infrastructure by spending billions. The demand for the HPU services remains sky high, leading to a revenue stream flowing into the billions. All of these made Micron stock scale up in value, as it supplies services to the most ‘in-demand’ sector.

Will It Double in Price Again & Reach $1,000?

Micron Technologies’ stock opened on Wednesday’s trading bell at $504 after rallying nearly 9% this week. Financial advising company DA Davidson gave MU a buy call on April 28, 2026, with a magnificent price target of $1,000. The investing company remains confident that Micron stock could once again double in value and breach the $1,000 threashold.

The new $1,000 price target for Micron stock by DA Davidson tops all the other Wall Street forecasts, which are mostly at $700. The investment advising company wrote in a note to clients that the market is still underestimating semiconductors. The demand and revenue generation remain unmatched, as tech titans are using the services in a loop.

“We believe artificial intelligence is creating a longer-than-usual memory cycle as compute deployment and demand generation exist in a positive feedback loop, creating a structurally higher ceiling for memory pricing and demand,” analyst Gil Luria wrote. An upside of another 100% will turn an investment of $1,000 into $2,000 if the forecast turns out to be accurate.