Micron Technology is having the kind of year that makes semiconductor bulls feel vindicated. Multiple Wall Street firms have raised their price targets on MU stock to $1,500 or higher, driven by a memory market that has gone from cyclical headache to AI-powered growth engine practically overnight.
Deutsche Bank analyst Christine Weathers lifted her target to $1,500 on June 17, implying roughly 43% upside from the stock’s level near $1,050 at the time. She’s not alone. Cantor Fitzgerald, TD Cowen, and Susquehanna have set similar or higher targets, with Susquehanna going full send at $2,000 and UBS landing at $1,625.
The numbers behind the hype
Micron posted $41.46 billion in revenue for fiscal Q3 2026. That’s a 346% year-over-year increase.
AI data center demand now accounts for over 50% of Micron’s total revenue. The company has essentially become a picks-and-shovels play for the AI gold rush, supplying the high-bandwidth memory (HBM) chips that power the GPU clusters training and running large language models.
