AMD and Micron Targets Raised as Taiwan Chip Exports Hit Record $30.8B

Taiwan's chip exports hit a record $30.8 billion in the latest monthly report, a 60% jump from a year earlier. Both Advanced Micro Devices (AMD) and Micron Technology (MU) shares have emerged from extended consolidation phases this month.

Charles Edwards, founder of Capriole Investments, sees this as strong evidence that AI-driven demand is still not fully reflected in prices.

Taiwan Chip Exports Hit Record on AI Demand

August integrated circuit exports from Taiwan reached $30.797 billion, according to the country's Ministry of Finance. That represents the fastest year-over-year growth since 2020.

Chips made up 37.4% of Taiwan's total exports in August, up from 34.9% in July, indicating a continued rise in concentration.

Taiwan chip exports are up over 20% in September alone! This huge wave of AI demand is simply not priced in yet. Higher. pic.twitter.com/3FAQ2sCpD1

— Charles Edwards (@caprioleio) September 22, 2026

Other regional data aligns with the trend. South Korean chip exports surged 259% in the first 20 days of September. TSMC reported a 53.3% revenue increase for August, while Taiwanese export orders grew 71.4%.

Some skeptics contend that much of this demand is already priced into stocks. Similar bubble warnings have accompanied the memory rally all year.

AMD Price Prediction: Can It Reach $691?

• AMD has broken above a key resistance level and recently set a record high of $624.84. If the rally persists, the next significant target is around $691, roughly 13% above the current price.
• A stronger rally could push AMD toward $827. However, the stock already appears relatively overbought, with its RSI above 70. That suggests a short-term pullback is possible even if the broader trend remains positive.
• The main support to watch is around $585. If AMD falls below that level, the breakout would look less convincing. The next major support areas sit near $550 and $435.

Micron Price Prediction: $1,032 Is the Key Level

• Micron is holding above an important support level at $1,032. Buyers have already defended this area twice this week. Staying above it would keep the recent breakout intact.
• The next major upside target is Micron's record high of $1,255. The stock is still about 16% below that level, while its RSI near 60 suggests it has more room to rise than AMD before looking overheated.
• A drop below $1,032 would weaken the outlook. The next support levels would be around $895 and $783. Micron's September 30 earnings could be the next major catalyst, with options markets expecting a move of roughly 10%.