Micron Technology Inc (NASDAQ:MU) is one of Renaissance Technologies’ top semiconductor stock picks.
Micron shares have gained more than 180% year-to-date and surged 830% over the past year
On May 26, Mizuho reaffirmed an Outperform rating on Micron Technology Inc (NASDAQ:MU) stock with a price target of $800 on the shares. This action followed Mizuho’s meeting with Micron executives, with the firm citing strong demand for memory chips driven by artificial intelligence applications. The firm stated that growing AI adoption is creating an undersupplied memory market, adding that this situation could continue through 2026 and 2027.
According to Mizuho analyst Vijay Rakesh, demand for high-bandwidth memory (HBM) and DRAM is being fueled by AI workloads. Mizuho said pricing for HBM4 and HBM4e products could increase between 70% and 100% in 2027, following a pricing reset in Q4 2025. The firm linked the expected increase to rising DRAM prices and growing product complexity.