Micron Technology trades at a 45% discount to Wall Street consensus, with analyst Ben Reitzes at Melius Research offering a $2,200 price target implying 111% upside, citing the company's sold-out HBM chip capacity backed by multi-year customer contracts. The stock fell 6.6% over summer after Q3 earnings, but has since rebounded 14.7% in the past month as investors reassess valuations in the AI hardware supply chain.