据D.A. Davidson分析，自今年年初以来，美光科技的股价已上涨超过两倍，而其上涨势头才刚刚开始。
Micron Technology has more than tripled since the beginning of the year, but its rally is just getting started, according to D.A. Davidson.
这家投资银行将这家存储芯片制造商的12个月目标价上调了43%，从2,100美元提高至3,000美元，并维持对这家总部位于爱达荷州博伊西市的公司的“买入”评级。
The investment bank hiked its 12-month price target on the memory chipmaker by 43%, to $3,000 from $2,100, and reiterated a buy rating on Boise, Idaho-based Micron.
按照这一新目标价计算，较美光科技周二1,045.56美元的收盘价而言，其上涨空间可达187%。
The new price target implies 187% upside from Micron's Tuesday close of $1,.045.56.
在与公司管理层会面后，D.A. Davidson分析师吉尔·卢里亚在周三发给客户的报告中指出：“我们认为投资者目前才刚开始认识到美光科技的价值，预计这一认知过程将促使他们给予该公司更高的估值倍数。‘若你不买入，其他人也会买。’
After meeting with management, "We concluded that investors are early in their journey of understanding MU's value and believe that journey will lead them to assigning a far higher multiple," Davidson analyst Gil Luria said Wednesday in a note to clients. "If you don't buy it, they will."
” 在人工智能热潮的推动下，用于数据处理与存储的存储芯片需求激增，导致相关产品出现短缺，受此利好影响，美光科技的股价在2026年已累计上涨266%，过去一年更是飙升了463%。
Micron has already soared 266% in 2026 and 463% in the past year, boosted by an artificial intelligence boom that's led to shortages in memory components needed to manage and store data.
D.A. Davidson预测，未来两年内市场对存储芯片的需求仍将持续旺盛，甚至远超供给能力。卢里亚写道：“存储容量是提升人工智能性能的关键要素。
MU YTD mountain Micron is up 266% in 2026 Demand is so intense it's likely to continue to "outstrip supply" over the next two years, according to D.A. Davidson. "Memory is a lever for better AI performance," Luria wrote.
拥有更多存储资源，AI模型就能产出更优质的结果、运行速度更快，还能处理更长的上下文信息。
"AI models generate better results with more memory, run faster with more memory ,and have longer context windows with more memory.
正是这一特性推动了存储芯片需求的迅猛增长，预计2027年和2028年这一需求仍将高于供给水平。”
That observation is driving the increases in demand that is due to outstrip supply in 2027 and 2028."
卢里亚还提到，美光科技计划让50%的营收来源于与长期战略客户的合作协议。
Micron aims to tie 50% of revenue to long-term, strategic customer agreements, Luria said.
由于这类合同难以随意解除，公司在未来数年的销售额基本能够得到保障，这也让各类投资者对美光科技业务的稳定性充满信心。
Because those contracts aren't easily cancelable, sales are effectively guaranteed for the next few years, reassuring a wider range of investors of the sustainability of Micron's business, D.A.
LSEG的数据显示，目前华尔街50位分析师中有46位给予美光科技“买入”或“强力买入”的评级，D.A. Davidson的推荐意见与这一行业共识完全吻合。
Davidson said. The recommendation matches the Wall Street consensus, where 46 of 50 analysts rate Micron a buy or strong buy, LSEG data shows.