Analysts reboot Micron Technology stock price target ahead of earnings originally appeared on TheStreet.

An elephant might never forget but Micron Technology  (MU)  has more storage space.

The Boise, Idaho, company makes memory and storage chips for data centers, computers and smartphones, and its client list includes such tech-sector superstars as AI-chip chieftain Nvidia  (NVDA) , Mac and iPhone maker Apple  (AAPL) , Facebook parent Meta Platforms  (META)  and software kingpin Microsoft  (MSFT) .

💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰

Make no mistake, there's money in memories, and we're not just talking about those singing cats on Broadway.

"After the historic downturn of 2022–2023, the memory industry has entered a phase of strong recovery. In 2024, memory revenue reached a record $170 billion,”  according to market researcher Yole Group.

"This rebound was fueled by AI-training requirements in data centers, with [high-bandwidth memory) playing a pivotal role due to its premium pricing and performance advantages," the firm added.

HBM continues to outperform the broader DRAM chip segment, Yole Group said. This year HBM revenue is set to nearly double to around $34 billion.

Micron is a key player in the HBM market, offering solutions like HBM3E and HBM4 designed for high-performance computing and AI applications.

The company recently joined the Trump administration to unveil plans to expand its U.S. investments to about $150 billion in domestic memory manufacturing and $50 billion in research and development, creating an estimated 90,000 direct and indirect jobs.

More Tech Stocks:

• Amazon tries to make AI great again (or maybe for the first time)

• Veteran portfolio manager raises eyebrows with latest Meta Platforms move

• Google plans major AI shift after Meta’s surprising $14 billion move

“Micron's U.S. memory manufacturing and R&D plans underscore our commitment to driving innovation and strengthening the domestic semiconductor industry,” Chairman, President and CEO Sanjay Mehrotra said in a statement.

The company's shares are up nearly up nearly 45% this year and off 16% from this time in 2024.

Investment firms have been issuing research reports for Micron Technology ahead of its fiscal-third-quarter earnings report, scheduled for June 25.

Wedbush boosted its price target on Micron to $150 from $130 while maintaining an outperform rating.

The firm said memory-pricing trends turned more positive in the second quarter.