Melius Research maintains a $2,200 price target for Micron, implying 133% upside despite recent declines and short interest.
Micron Technology (NASDAQ:MU) has fallen 22% from its June all-time high, yet demand for high-bandwidth memory (HBM) remains sold out through at least 2028. The decline follows Dr. Michael Burry’s public short position, though analysts argue the pullback may be temporary.
Previous double-digit drops in Micron and DRAM stocks were followed by rapid V-shaped recoveries, rewarding investors who bought dips. Melius Research retains a Street-high $2,200 price target, suggesting significant upside despite near-term volatility.
The Jevons Paradox effect—where cheaper AI compute fuels greater HBM demand—could create a self-reinforcing cycle, making short positions on memory stocks risky, according to market observers.