US Stock Movement | Storage concept stocks continue to strengthen, Micron Tech rises over 7%

On Thursday, storage concept stocks continued to strengthen, with Micron Technology rising over 7% to set a new historical high, Western Digital increasing by more than 6%, and Seagate Tech climbing nearly 4%. On the news front, Morgan Stanley upgraded Micron's rating from "Hold" to "Overweight," while significantly raising its target price from $160 to $220. The background for this rating adjustment is the sustained price increase of core DRAM products, which has consistently exceeded market expectations. Despite Micron Technology's recent strong performance, Morgan Stanley still believes there is further upside potential for its stock price. Additionally, according to CCTV Finance, global storage chip prices have continued to rise over the past six months. Particularly in the last month, news of price increases has become increasingly frequent. According to Morgan Stanley's latest research report, under the artificial intelligence boom, the storage chip industry is expected to enter a "super cycle."