Micron (MU) stock recently went from $448 to a peak of $804. The move is mostly driven by AI data center demand for their DRAM and NAND memory chips. Supply is currently tight, giving the company strong pricing power. The memory market is usually cyclical, but the ongoing need for high-bandwidth memory for AI models might help stabilize demand. Analysts project their EPS could hit $103 by fiscal 2027. If you apply a 15x forward P/E to that estimate, it implies a price target around $1500, compared to where it is trading now near $730.