Wall Street is also surprised! Micron (MU.US) is priced so insanely high that Wedbush directly raised its target price to $500.

Wedbush Securities issues a research report, reaffirming Micron Technology(MU.US)'s “Outperform” rating, and raising the target price from $320 to $500, citing its pricing performance exceeding expectations.

Analyst Matt Bryson wrote in a report to clients: “Pricing in the first quarter seems to have far exceeded Micron’s previous expectations.”

He added that Micron’s second-quarter guidance indicates that its average selling price(ASP) is expected to rise by about 30%.

Bryson also pointed out that in January this year, the contract prices for DRAM and NAND flash memory appeared to reflect a 50% or higher increase in the first quarter of 2026, but the latest signs suggest that some contract prices have even experienced triple-digit growth.

“And moreover, the outlook for the second quarter is more optimistic than we previously expected. We originally anticipated NAND and DRAM prices to increase by 30%-50%, although the specific trend in the second quarter will to some extent depend on the final price levels in the first quarter(.”

Additionally, after the Spring Festival, the memory chip industry has not cooled down. Bryson stated: “On the contrary, we see demand continuing to rebound, and the supply landscape becoming even tighter.”

“In summary, as all data points rise and Micron’s stock price remains below what we consider to be the typical peak earnings valuation level, we see no reason to change our positive outlook on the stock) or the entire memory chip industry(.”