MU has been on a rampage, and I'm not here to call a top. Look at that chart: barely a year ago, this was a double digit stock and now it's smashing through 700. Wild. But just because it's up huge doesn't mean it's done. Most people will say "too hot, too risky" but I think that's exactly why it's about to keep ripping. My target? 870.00. I'm not shy. That's where I'm looking for a quick exit.
Here's why I'm staying aggressive: demand for memory is exploding even faster than people want to admit. MU's supply discipline and tight control on capex put them in the perfect spot to hit insane margins. Everyone's scrambling for capacity, and MU's pricing power lets them keep squeezing. If you're waiting for some "mean reversion" to save you, forget it. There are no signs of demand cooling. Plus, those last few earnings? Absolutely blasted expectations. The momentum alone is going to squeeze shorts and bring in every FOMO chaser on the street.
Catalyst is simple: next earnings cycle. If they put up another "beat and raise" then all the valuation hand wringing will get left in the dust. I honestly think it gets crowded at the top, but that's a problem for next quarter. For now, nobody is stepping in front of this freight train.
Yeah, it's not risk free. If demand for memory actually slips or there's a surprise guide down, this thing will nuke. I'd have a stop in place if you're scared, because it could get ugly fast. But if you want upside, you won't find a better setup right now. Let the bears short into oblivion.