Micron soars 237% as UBS lifts target to $400, citing AI-driven DRAM squeeze

As of January 7, 2026, Micron shares have climbed 237% over the past 12 months. UBS reiterated a buy rating and raised its price target to $400, about 16% above Tuesday's close. According to UBS analyst Timothy Arcuri, AI workloads are constraining DRAM supply, leaving Micron able to fulfill only 50% to 75% of demand for major customers.