Micron (MU) saw a 1.2% bump in morning trading on November 18, 2025, following Rosenblatt Securities' revised price target of $300. The stock even grazed an all-time high, hitting $257.45 before settling around $251.13, a 1.5% increase from the previous close. Rosenblatt's bullishness hinges on constrained DRAM supply through 2026 and escalating demand, primarily fueled by the AI boom—specifically, the insatiable data storage needs of generative AI. Micron's stock is up 188% year-to-date, which is eye-watering, but let's not get carried away. According to Micron (MU) Stock Is Up, What You Need To Know - Yahoo Finance, Micron saw a boost following Rosenblatt's revised price target.
Four days prior, MU dipped 4.7% amidst a broader market retreat and, perhaps more significantly, a re-evaluation of AI stock valuations. The market's reaction to Rosenblatt's target increase is described as "meaningful but not fundamentally changing perception." This is Wall Street speak for: "We heard you, but we're not rearranging the furniture just yet."
The critical question is whether this target is based on solid ground or just wishful thinking. Rosenblatt points to limited DRAM supply and surging AI demand. Fair enough. But let's dig a little deeper. The assumption is that generative AI's growth directly translates to proportional demand for Micron's specific high-capacity data storage solutions. Is that really the case? Are there viable alternatives? (And, frankly, what happens when the AI bubble inevitably cools?)
Micron shares are no strangers to volatility. We're talking about 34 moves exceeding 5% in the past year alone. That's not a stock for the faint of heart. For those with a longer time horizon, the picture is rosier. A $1,000 investment in Micron five years ago would be worth $4,051 today. Not bad, if you can stomach the rollercoaster.
Investors are supposedly taking profits in high-flying AI and tech stocks, leading to a "market rotation" – a fancy term for selling winners to buy perceived losers. There's also the looming specter of the Federal Reserve. The narrative is that investors are selling in anticipation of economic data that might dissuade the Fed from future rate cuts. It's a domino effect of speculation built on speculation.
This brings me to something I find genuinely puzzling. The narrative around rate cuts is almost treated as a given. But what if the economic data doesn't cooperate? What if inflation proves stickier than anticipated? The entire premise of this market rotation could unravel faster than you can say "quantitative tightening."
The other element to consider is just how cyclical the semiconductor industry is. Micron's fortunes are intimately tied to broader economic trends and technological shifts. We've seen periods of boom and bust before, and there's no guarantee this current upswing will last forever.
Rosenblatt's $300 price target is a data point, not a prophecy. It's a projection based on specific assumptions about supply, demand, and the continued dominance of AI. Those assumptions could easily be wrong. Micron's long-term prospects are tied to the volatile world of technology, and investors should approach it with a healthy dose of skepticism. A 188% YTD increase? That's unsustainable.
