$Micron Technology(MU)$ TD Cowen just made a pretty aggressive move, raising Micron's price target from $660 to $1,500 while maintaining a Buy rating.

That's not a small adjustment; it's essentially a different long-term model.

What's driving it: increased DRAM content per 1GW even after SOCAMM de-specing, a ~$150 CY27E EPS framework, and CPU demand pushing expectations for stronger, longer pricing power.

But the bigger shift is in the underlying assumption, not just the numbers.

They're now modeling pricing strength extending into the second half of CY27, instead of a digestion phase in the first half.

That's the key change.

Because once the market stops thinking "cycle peak → correction" and starts thinking "extended pricing power," everything from sentiment to valuation starts to re-rate quickly.

It feels less like a target update and more like a regime reset in how people underwrite memory stocks.