Micron could rise 50% more, UBS analyst says

UBS analyst Timothy Arcuri reiterated Buy and $1,625 target on Micron, citing widening supply-demand gap, strong AI memory demand, and potential for massive share buybacks after Chips Act restrictions expire in December. He forecasts Q4 revenue $52.4B and EPS $32.50, beating guidance. Even if memory prices fall 80% in 2028, buybacks and long-term pricing agreements support earnings.