Micron stock price surges toward $800 and Deutsche Bank says $1,000 is next — Is MU stock rally about to crack or keep climbing?

Micron stock surged 6% to $790 on May 11, hitting a 52-week high of $818. Deutsche Bank raised its price target to $1,000. DRAM revenue exploded 207% while total revenue tripled to $23.86 billion. Yet MU trades at a forward P/E of just 12, half the sector median. What makes this rally remarkable is not just the scale of the move, but the speed. Micron stock has climbed dramatically since bottoming near $64 last year.

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