Micron Technology may see its shares nearly double due to the artificial intelligence boom boosting demand for its memory scaling offerings, according to D.A. Davidson. The investment bank began research coverage of Boise, Idaho-based company with a buy rating and a $1,000 12-month price target, suggesting 91% upside from Monday's close. The bank believes that AI is creating a longer-than-usual memory cycle as compute deployment and demand generation exist in a positive feedback loop, creating a structurally higher ceiling for memory pricing and demand. Micron is focusing on developing memory scaling technologies, using four consecutive Dynamic Random Access Memory (DRAM) nodes and three NAND nodes. The company's nodes are likely to become more popular as AI booms, boosting sales and the stock.