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Key Takeaways
- Memory chip maker Micron Technology was among the best-performing stocks in the S&P 500 Monday afternoon, along with hard drive makers Western Digital and Seagate Technology.
- Mizuho analysts told clients in a note Monday that they see the outlook for Micron’s high-bandwidth memory chips remaining strong into next year and 2027.
Memory and data storage stocks led the tech sector higher Monday amid optimism about growing AI-driven demand.
Shares of memory chip maker Micron Technology (MU) were up 7% around $254 in recent trading, making it one of the best-performing stocks in the S&P 500, along with hard drive makers Western Digital (WDC) and Seagate Technology (STX). Read Investopedia’s full daily markets coverage here.
Bullish analysts at Mizuho told clients in a note Monday that they see the demand outlook for Micron’s high-bandwidth memory chips remaining strong into next year and 2027, with potential for margin upside on strong pricing. That could mean further room to rise for the Nvidia (NVDA) and Advanced Micro Devices (AMD) supplier’s stock, they said, and reiterated a price target of $265.
Wall Street analysts are overwhelmingly bullish on Micron’s stock, with nine of the 10 analysts with current ratings compiled by Visible Alpha calling it a “buy,” though it has already outstripped their mean target with its recent gains on booming demand for AI hardware. Analysts also lean more bullish than bearish on Western Digital and Seagate shares.
Why This Is Significant
Big stock gains for Micron, Western Digital, and Seagate underscore how demand for memory and data storage solutions to support AI has helped send shares of the companies that make these products soaring this year.
With Monday’s gains, Micron shares have roughly tripled in value in 2025. Western Digital shares have nearly quadrupled, and Seagate is up about 240%, leaving all three stocks among the best-performing stocks in the S&P 500 for 2025.
