Micron Technology (MU) shares are taking a breather Tuesday, slipping after hitting an all-time high of $818.67. The pullback is hardly a surprise — the stock has rallied 152.15% year-to-date, fueled by insatiable demand for AI memory. When a stock goes up that fast, even the bulls need to catch their breath.
Micron's Rocket Ride Hits a Breather, But Ross Gerber Sees $1,140
MarketDash
Micron (MU) pulls back after hitting record highs. Ross Gerber sets a $1,140 price target based on massive AI memory demand and 2026 EPS.
Get Micron Technology Alerts
Weekly insights + SMS alerts
Gerber's Simple Math For $1,140
Investor Ross Gerber of Gerber Kawasaki isn't fazed by the dip. In a Monday post on X, he laid out a bullish case that's refreshingly straightforward. "The micron math is simple," Gerber stated. He projects 2026 earnings per share (EPS) of $57. Apply a 20 times market multiple, and you get a price target of $1,140. No fancy models, just basic arithmetic — and a lot of confidence in the AI memory boom.
AI Memory Boom Fuels Micron Growth
The numbers behind that confidence are staggering. Micron's fiscal second-quarter revenue hit $23.86 billion, nearly triple the previous year. CEO Sanjay Mehrotra has pointed out that AI inference requires faster, higher-capacity memory, and Micron is right in the sweet spot. Research firm Gartner projects global memory revenue will triple to $633.3 billion by 2026. That's a lot of chips.
Institutional Risk Management
Not everyone is all-in, though. Some professionals are taking chips off the table. Kevin Simpson, CIO of Capital Wealth Planning, told CNBC his firm scaled back risk by writing covered calls on one-third of his Micron holdings. His reasoning? The stock nearly doubled in a month, and position size needs managing. It's a classic case of "buy the rumor, sell some calls."
While Micron leads the pack, peers like Western Digital (WDC) and Seagate Technology (STX) are also seeing increased activity as the memory sector heats up.
Micron Stock Slips In Premarket Trading
As of Tuesday premarket, Micron shares were down 3.18% at $770.02. Whether this is a dip to buy or a sign of more profit-taking remains to be seen. But with Gerber's $1,140 target and the AI memory wave still building, the story is far from over.
More News
Producer Prices Just Did Something They Haven't Done Since 2022—and It's Not Good
Trump, Elon and the Coming AI “Black Swan”
Trump Lands in China With $16 Trillion in CEO Firepower — And One Big Ask for Xi
Nasdaq 100 Hits Record as Nvidia Soars, But Hot PPI Data Has Rate Hike Fears Simmering
Jensen Huang Joins Trump's China Delegation: A High-Stakes AI Poker Game
Trump's Secret Retirement Fund
Red Cat Stock Takes a Dive After Pricing a $225 Million Offering at a Discount
Jack Daniel's Maker Brown-Forman Turns Down $15 Billion Sazerac Bid
Get Micron Technology Alerts
Real-time alerts on price moves, news, and trading opportunities.
Join 20,000+ investors. No spam, ever.
Featured Articles
View all newsProducer Prices Just Did Something They Haven't Done Since 2022—and It's Not Good
By MarketDash
May 13, 2026
Remember Tesla? (Ad)
By The Oxford Club
Trump Lands in China With $16 Trillion in CEO Firepower — And One Big Ask for Xi
By MarketDash
May 13, 2026
Nasdaq 100 Hits Record as Nvidia Soars, But Hot PPI Data Has Rate Hike Fears Simmering
By MarketDash
May 13, 2026
Jensen Huang Joins Trump's China Delegation: A High-Stakes AI Poker Game
By MarketDash
May 13, 2026
How To Claim Your Pre-IPO Stake In SpaceX! (Ad)
By Paradigm Press
Red Cat Stock Takes a Dive After Pricing a $225 Million Offering at a Discount
By MarketDash
May 13, 2026
Jack Daniel's Maker Brown-Forman Turns Down $15 Billion Sazerac Bid
By MarketDash
May 13, 2026