Micron (MU) stock price hit a new all-time high intraday price of $1,046.97 today. The company is also the latest to join the $1 trillion market cap club. AI-based stocks have seen incredible gains over the last few years. MU’s latest surge follow’s the same pattern. Raymond James has added fuel to the MU fire in a new report. According to the bank’s analysis, MU could climb further still in the coming days. Let’s discuss.

Micron Stock Predicted To Surge Beyond All-Time High

Raymond James has increased its price target for Micron (MU) from $530 to $1100. The bank made its prediction weeks ahead of the Micron’s earnings report due to June 24, 2026. According to analyst Melissa Fairbanks, “MU has been among the most popular topics. While the share price and multiple continue to reach new highs, we note limited pushback among the investor base.“

Also Read: New MU Stock 5-Year Forecast After Micron’s All Time High

Fairbanks also notes that the market has never seen such demand. The analysts highlights that several clients have made big investments in Micron (MU) simultaneously. Fairbanks said they recently visited South Korea and Taiwan to meet with Samsung, SK Hynix, and other companies in the supply chain, as part of their analysis for Micron. They found that supply is already sold out for the next several years. Pricing also remains strong. They further added that customers are now giving much clearer long-term visibility into future demand.

Risks?

The ongoing US-Iran conflict could pose some risks to the supply chain. Peace talks between the two countries have failed yet again, and the Strait Of Hormuz is facing another blockage. Micron (MU) could see a correction if investors feel the pressure. Raymond James analysts don’t seem worried about demand slowing down. They also don’t expect prices to drop anytime soon. However, supply could be challenge in the coming days.