Micron: The AI Memory Story Is Real, But at $1 Trillion the Stock Has Run Past It

Rating: Hold - Hold positions, wait for a breather.

Micron just joined the $1 trillion club, but the market has moved faster than the business. The stock closed near $971 on May 29, up nearly 190% from where it sat in early March. UBS tripled its price target to $1,625, implying 81% upside from today's price. The company's latest quarterly results were genuinely extraordinary. The problem isn't the business. It's how much future perfection the stock now demands from a cyclical memory maker.