Micron Technology (MU) Stock Today, November 25, 2025: Street‑High Targets, AI Memory Boom and Volatile Price Action

Micron Technology, Inc. (NASDAQ: MU) is back at the center of the AI trade today as Wall Street issues fresh bullish calls, institutions disclose new positions, and analysts double down on the memory “super‑cycle” narrative driving demand for Micron’s chips.

As of Tuesday, November 25, 2025, Micron shares are trading around $220, easing slightly after a sharp rally from last week’s lows but still sitting on a huge year‑to‑date gain of more than 150%. ^[1]

Below is a detailed look at today’s Micron stock news, what it says about the company’s AI‑driven growth story, and what investors will be watching next.

Micron share price today: cooling off after a record run

Intraday trading (Nov 25, 2025):
In mid‑afternoon U.S. trading, Micron changes hands at about $219–$220, down roughly 2% on the day. The stock has traded between $216.06 and $223.99 with volume a little over 7 million shares so far.
12‑month performance:
Over the past year, Micron has climbed from a 12‑month low near $61.54 to a high around $260.58, giving the company a market value of about $252 billion. ^[2]
Year‑to‑date surge and valuation:
Barchart pegs Micron’s gain at roughly 161% year‑to‑date, yet still shows the stock trading at around 12.5× forward earnings, suggesting the rally has been driven by rapidly improving fundamentals rather than pure multiple expansion alone. ^[3] MarketBeat data, which uses a trailing view, shows a price‑to‑earnings ratio of about 29.5, a PEG ratio near 0.5, and a beta of 1.62, underlining how aggressively the market is repricing Micron’s growth prospects—and how volatile the ride can be. ^[4]

Morgan Stanley sets a Street‑high $338 target on Micron

The biggest single catalyst for Micron stock news today is Morgan Stanley’s new Street‑high price target:

Target hiked to $338:
Top Morgan Stanley analyst Joseph Moore has raised his Micron price target from $325 to $338 while reiterating an “Overweight” (Buy) rating. That target implies roughly 50% upside from current levels around $220. ^[5]
Reason: intensifying memory shortages:
Morgan Stanley’s thesis is that Micron is one of the clearest beneficiaries of a structural supply‑demand imbalance in DRAM and high‑bandwidth memory (HBM) created by the AI infrastructure boom. The bank points to rising demand for advanced memory in AI servers and notes that supply of cutting‑edge nodes remains tight, giving Micron pricing power and margin leverage. ^[6]
Framing the pullback as opportunity:
The call effectively characterizes the recent double‑digit pullback from Micron’s all‑time highs as a buying opportunity, not the end of the AI memory trade. Recent commentary from 24/7 Wall St. echoes this, describing the prior sell‑off as a “textbook overreaction” given Micron’s scale in DRAM and NAND and its rapidly growing HBM business. ^[7]

Despite that bullish backdrop, MU is modestly lower today, underscoring how jittery investors remain after November’s volatility.

UBS backs the bull case with a $275 target and sold‑out HBM capacity

Today’s bullish tone builds on a UBS report from last week that is still reverberating through the market:

UBS price target: $275 and Buy rating:
UBS lifted its Micron target from $245 to $275 and reiterated a Buy rating, arguing that the company is positioned for strong DRAM profitability and outsized upside in HBM‑driven earnings. ^[8]
HBM supply booked through 2026:
UBS highlighted that Micron’s HBM capacity is effectively sold out through 2026, reflecting surging demand from AI accelerators and cloud data centers. That gives Micron unusual visibility into multi‑year revenue and supports the argument for margin expansion as high‑value products become a larger share of the mix. ^[9]
Raising global HBM demand forecasts:
In related work cited by 24/7 Wall St., UBS also nudged up its global HBM demand forecast, now expecting around 17.3 billion gigabits of end‑consumption this year and 28 billion gigabits by 2026, as Nvidia and AMD increase orders for next‑generation AI GPUs. ^[10]

Taken together, Morgan Stanley and UBS paint a consistent picture: AI memory is the bottleneck, and Micron is one of a handful of companies controlling that bottleneck.

New institutional buyers and heavy analyst support

Another notable development today is fresh institutional interest in Micron:

Waterloo Capital L.P. initiates a position:
A new 13F filing shows Waterloo Capital L.P. acquired 3,536 Micron shares in the second quarter, valued at about $436,000, according to a MarketBeat report published November 25. ^[11]
Broader institutional ownership:
Several other firms—including First Command Advisory Services, AlphaQuest, MJT & Associates, Hilltop National Bank and even the Saudi Central Bank—have recently disclosed new or increased stakes. In total, institutions now control roughly 80.8% of Micron’s outstanding shares, a sign that the stock is firmly embedded in professional portfolios. ^[12]
Insiders are taking some profits:
At the same time, executives have been trimming positions after the big run. EVP Scott J. Deboer sold about 82,000 shares at an average price around $223, while CAO Scott R. Allen sold 8,800 shares at roughly $210, part of over 400,000 shares sold by insiders last quarter. Insider ownership remains low at about 0.3%, which is common for large, widely‑held tech companies. ^[13]
Wall Street ratings skew strongly positive:
MarketBeat’s tally shows five Strong Buy ratings, 26 Buys and just four Holds, for an overall “Buy” consensus. The average analyst target sits near $216, with the newest Morgan Stanley call pushing the high end of the range to $338. ^[14]

AI‑memory boom: why so many analysts say Micron’s rally isn’t done

Across today’s research and commentary, one theme dominates: Micron is no longer a generic cyclical memory name—it’s an AI infrastructure play.

Dominant positions in DRAM, NAND and an expanding HBM franchise

A widely read 24/7 Wall St. analysis notes that Micron controls roughly 23% of the global DRAM market and about 12% of NAND flash, putting it firmly in the top tier of memory suppliers alongside Samsung and SK Hynix. ^[15]

But it’s the pivot to high‑bandwidth memory (HBM) that is redefining the story:

Barchart reports that Micron’s HBM customer roster has grown to six major buyers, and that most of its HBM3E supply for calendar 2026 is already under pricing agreements, with discussions for HBM4 underway. ^[16]
Seeking Alpha’s new article today describes Micron’s 1‑gamma DRAM and HBM platforms as the main engines of revenue and margin expansion, noting that AI‑related products now sit at the core of the company’s growth strategy. ^[17]

Deepening partnership with Nvidia and next‑generation products

A Nasdaq/Motley Fool piece from November 23 adds important detail on how Micron fits into the Nvidia‑centric AI ecosystem: ^[18]

Micron confirmed that its HBM3E chips will power Nvidia’s upcoming Blackwell architecture, with Nvidia CEO Jensen Huang highlighting Micron’s G7 memory delivering up to 1.8 terabytes per second of bandwidth.
Nvidia’s new Project DIGITS desktop AI system uses Micron DDR5X memory, while Micron has begun sampling 192GB SOCAMM2 modules that deliver around 2.5× the bandwidth of standard memory modules at roughly one‑third the power, targeted squarely at AI data centers.

These details support the bullish narrative that Micron is embedded not only in commodity PCs and smartphones but also in the highest‑end AI systems shipping over the next several years.

“Monster rally isn’t a sell signal,” say bulls

In a column published less than an hour ago, Barchart argues that Micron’s 161% year‑to‑date rally “isn’t a reason to sell,” pointing to: ^[19]

Tight DRAM and HBM supply alongside robust demand from data centers, which supports strong pricing.
Record revenue in Micron’s data center SSD business and growing sales of high‑capacity server DRAM.
Early traction in HBM4, where Micron is already shipping samples and preparing higher‑margin HBM4E variants.

The article notes that despite the massive share‑price appreciation, Micron still trades around 12.5× forward earnings, and consensus forecasts call for EPS growth of more than 100% in fiscal 2026—powerful numbers for a company already north of $200 billion in market cap. ^[20]

Record fiscal 2025 results underpin the bullish narrative

Today’s commentary doesn’t exist in a vacuum; it sits on top of blowout financial results Micron reported in late September.

According to the company’s official Q4 and full‑year fiscal 2025 release: ^[21]

Fiscal Q4 2025 (quarter ended August 28, 2025):
- Revenue: $11.32 billion, up from $7.75 billion a year earlier (about 46% growth).
- GAAP EPS: $2.83 per diluted share.
- Non‑GAAP EPS: $3.03, beating analyst expectations.
- Operating cash flow: $5.73 billion, up sharply year‑on‑year.
Full fiscal year 2025:
- Revenue: $37.38 billion, up from $25.11 billion in 2024.
- GAAP net income: $8.54 billion (EPS $7.59).
- Non‑GAAP net income: $9.47 billion (EPS $8.29).
- Operating cash flow: $17.53 billion, more than double the prior year.

CEO Sanjay Mehrotra described fiscal 2025 as a “record‑breaking” year powered by AI data center demand and said Micron is entering fiscal 2026 with its “most competitive portfolio to date,” highlighting the company’s unique position as the only U.S.-based major memory manufacturer. ^[22]

MarketBeat’s recap of those results notes that Micron has guided Q1 fiscal 2026 EPS to a range of $3.60–$3.90, and consensus estimates now call for roughly $6.08 in EPS for the current fiscal year, implying further growth from already‑elevated levels. ^[23]

The next earnings release is currently expected on December 17, 2025, after the market close, making today’s analyst actions part of the positioning ahead of that catalyst. ^[24]

Valuation, risks and what could go wrong

Even the most bullish pieces out today acknowledge that Micron is not a risk‑free AI bet.

Key risk factors flagged across today’s research include: ^[25]

Cyclicality isn’t dead, just muted:
Memory has always been cyclical. AI demand and constrained advanced‑node capacity are helping to smooth the cycle, but a slowdown in AI spending or an aggressive capacity build‑out by competitors could still pressure prices and margins.
Heavy capital expenditure:
Micron spent about $13.8 billion on capex in fiscal 2025 and plans to keep investing heavily to expand HBM and advanced DRAM capacity. That raises execution risk: if demand falls short of expectations, returns on that investment could compress.
Competition from Samsung and SK Hynix:
Micron still trails its South Korean rivals in overall memory share and must continue to deliver on performance, yields, and time‑to‑market for HBM4 and beyond to maintain pricing power.
Geopolitical and trade risk:
As a major U.S. chip manufacturer selling into global markets, Micron is exposed to export controls, China‑related tensions, and the pace of CHIPS Act incentives and approvals.
Recent volatility is a reminder of sentiment risk:
Micron recently dropped more than 10% in a single session amid broader jitters about AI valuations and after Nvidia’s earnings commentary sparked concerns about data‑center spending. Commentators at 24/7 Wall St. argue the sell‑off “never made sense” given Micron’s fundamentals—but it shows how quickly sentiment can swing. ^[26]

Key takeaways for Micron (MU) on November 25, 2025

Putting it all together, today’s Micron stock news suggests:

Street‑high targets reinforce the AI‑memory thesis.
Morgan Stanley’s new $338 target and UBS’s $275 call both argue that Micron’s DRAM and HBM franchises are still underpriced relative to the AI data‑center demand they serve. ^[27]
Fundamentals are catching up with the hype.
Record fiscal 2025 revenue, surging cash flow, and strong guidance for fiscal 2026 give quantifiable backing to the story, not just narrative momentum. ^[28]
AI infrastructure remains the growth engine.
Tighter HBM supply, expanding partnerships with Nvidia, and multi‑year supply agreements with top customers position Micron as one of the key enablers of the AI build‑out. ^[29]
Valuation is no longer “cheap,” but still screens reasonable versus growth.
After a ~160% YTD surge, Micron trades at mid‑ to high‑teens forward earnings and a sub‑1 PEG ratio in many models, which bulls see as attractive versus AI peers with loftier multiples. ^[30]
Volatility and cyclicality remain the biggest wild cards.
Rapid swings tied to macro data, AI sentiment, and competitor headlines are likely to continue, meaning Micron may be best suited to investors comfortable with large short‑term moves in pursuit of a long‑term AI infrastructure theme.

Disclaimer: This article is for informational and news purposes only and does not constitute financial advice, investment recommendation, or a solicitation to buy or sell any securities. Always do your own research or consult a licensed financial adviser before making investment decisions.