If you mean roughly Micron up to US$1,000/share and SanDisk up to US$2,000/share, that would imply extraordinary gains from current levels and would require a very different earnings profile from today's industry. Memory is in a strong cycle The bullish case is based on: AI servers driving unprecedented demand for HBM and DRAM Memory supply remaining disciplined NAND inventories largely normalised Data centre spending still growing rapidly Key beneficiaries include Micron Technology and SanDisk. What would justify those prices? For Micron: A share price of US$1,000 would likely require earnings to be many times higher than current cycle peaks. Even assuming a premium AI multiple, Micron would need to become one of the world's largest semiconductor profit generators, approaching the scale o
The recent rally was driven by three major factors: Lower oil prices The preliminary US-Iran agreement raised hopes that oil exports through the Strait of Hormuz will normalise. Brent crude fell below US$80/barrel, easing inflation concerns. � Reuters +1 Lower inflation expectations Cheaper energy reduces pressure on the US Federal Reserve to tighten monetary policy. Investors are now more comfortable owning growth and technology stocks. � Reuters +1 Risk appetite returned The Dow closed at fresh record highs. The S&P 500 remains near all time highs despite some profit taking in AI stocks. Volatility has fallen from recent peaks. � AP News +1 Is this a new bull market? The evidence suggests the US market remains in a bull market: Indicator Status Dow Jones Record high S&P 500 Near