On September 18, Micron Technology rose 3.02% in regular trading, trading above $1,006 per share with turnover of $21.124 billion, breaking through the $1,000 level for the first time.

On the news front, RBC Capital Markets issued a note stating that AI-driven memory demand continues to outpace supply, supporting a potentially extended DRAM upcycle. The analysts highlighted that strong demand for high-bandwidth memory, limited clean-room capacity, and tight EUV availability keep supply constrained. DRAM contract prices are on track to rise more than 20% quarter-over-quarter in calendar Q3, with RBC projecting full-year revenue of $50 billion and non-GAAP EPS of $31.09.

The move also follows TD Cowen setting a $1,600 target price based on a 9x multiple on projected earnings, and Micron unveiling the world's first 512GB DDR5 RDIMM module. Meanwhile, Micron management noted that meaningful new memory supply will not ramp until 2028, reinforcing the structural supply-demand imbalance. The broader storage sector traded higher, with SanDisk up over 6% and Seagate and Western Digital each up over 3%.

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