Micron Technology (MU) shares have rallied 269% in 2026, with Wall Street setting price targets of $1,500 to $1,600 ahead of fiscal Q4 earnings on September 30. The stock closed at $1,053.98 on Monday and traded at $1,069.27 in pre-market. The average target of $1,515 implies roughly 44% upside. Analysts remain bullish, citing sustained AI demand and tight DRAM supply. Baird raised its target to $1,520, while Rosenblatt and TD Cowen maintain Buy ratings with targets of $1,500 and $1,600, respectively. Risks include faster supply additions, weaker HBM demand, and falling memory prices.
Micron Technology (MU) shares have surged approximately 269% during 2026, yet the stock outlook remains bullish ahead of fiscal Q4 earnings on September 30. The stock closed at $1,053.98 on Monday and traded at $1,069.27 in pre-market, with the average analyst price target of $1,515 pointing to roughly 44% upside.
Wall Street has set a price target range of $1,500 to $1,600. After OpenAI paused training on some of its AI models, shares slipped 2.61% on Monday, as stated by Yahoo Finance data. However, 36 of the 49 analysts tracked by StockAnalysis still rate Micron a Strong Buy.
Baird analyst Tristan Gerra raised his target to $1,520 from $1,280 and kept an Outperform rating. Gerra wrote: “We are incrementally positive on Micron near- and medium term, owing to 1) the recent surge in agentic AI demand, notably driving CPU demand and which we expect will be ongoing next year; 2) a deceleration in [dynamic random access memory] supply bit growth outlook industrywide for 2027 versus this year; 3) a higher margin profile expected for [high bandwidth memory] next year.”
Rosenblatt analyst Kevin Cassidy reiterated a Buy rating with a $1,500 price target and expects another beat-and-raise. TD Cowen analyst Krish Sankar holds a Buy rating with a $1,600 target. Sankar sees room for a rerating, arguing the stock could justify a multiple closer to nine times forward earnings, up from about 5.8 times.
Micron management guided fiscal Q4 revenue of $50 billion, gross margin of about 86%, and earnings of $31 per share, plus or minus $1. CEO Sanjay Mehrotra, as stated on his LinkedIn profile, noted: “Micron’s record fiscal Q3 financial results and even stronger outlook for Q4 reflect the strategic value of memory in the AI era.”
The main risks behind these forecasts include faster supply additions, weaker HBM demand, and falling memory prices. Most analysts maintain that if September 30 earnings confirm strong pricing and margins, the $1,500 to $1,600 price target range remains realistic.
