“AI Boom” Pushes Monolithic Power (MPWR) Stock to Record High – Is the Rally Just Beginning?
MPWR shares surged to a 52-week high of $1,045.01 on Oct. 23, up about 4% intraday and nearly 70% year-to-date. The rally followed KeyBanc raising its price target to $1,250, citing MPS’s strong position in AI chip power management. Recent Q2 revenue rose 31% to $664.6 million, with non-GAAP EPS of $4.21 beating estimates. Trading volume was heavy as investors responded to the analyst upgrade and sector momentum.