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Micron Technology is set to release its earnings report on Wednesday. Prior to this, Gil Luria, an analyst at D.A. Davidson and a staunch supporter of its memory chip business, reiterated a target price for Micron's stock of $2,000—close to the highest expectation on Wall Street, roughly double Micron's latest closing price. Luria believes that memory is a key component for the operation of large AI models, with greater memory capacity leading to better model performance, faster inference speeds, and longer context windows. Market participants generally indicate that memory demand continues to surge, while new supply will take at least a year to catch up. The current market valuation already reflects expectations of the end of the memory cycle, but demand for AI computing power continues to grow.
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