Melius Research just doubled down on Micron Technology in the most literal sense possible. The firm raised its price target on the chipmaker to $2,200 from $1,100, pointing to strong fundamentals and longer-term strategic agreements as the catalysts.
To put that number in perspective, Melius first initiated coverage of Micron on April 27, 2026, with a price target of $700. Roughly three weeks later, on May 18, the firm bumped that to $1,100. Now it’s at $2,200. That’s a tripling of conviction in a matter of weeks.
Wall Street is piling in
UBS raised its own Micron price target to $1,625 from $535 back on May 26. Susquehanna went to $1,750. Other financial institutions have clustered their targets in the $1,500 to $1,750 range.
Melius analyst Ben Reitzes has characterized the AI-driven demand for high-bandwidth memory, DRAM, and NAND chips as unprecedented in the semiconductor industry.
