Micron Technology (MU) stock has surged 13.9% over the past week, 15.5% over the past month, and an eye‑catching 353.9% over the last 12 months. Wall Street’s analysts are strongly bullish, with a 12‑month consensus price target of $494, implying further upside from the last close at $461.73.
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Analysts see $MU continuing to benefit from powerful trends in artificial intelligence and data centers, which are driving demand for advanced memory chips. The consensus “StrongBuy” rating reflects expectations that this momentum can continue as revenue and earnings scale up from today’s already elevated levels.
Top‑ranked analyst Harlan Sur of J.P. Morgan reiterated his Buy rating on $MU on March 19, 2026, setting a price target of $550, implying additional upside from current levels. Sur argues that AI‑driven demand and structural supply tightness are giving Micron strong pricing power in both DRAM and NAND memory.
According to Sur, customers are starting to treat memory less like a commodity and more like a strategic asset, highlighted by Micron’s first 5‑year strategic customer agreement. All four of Micron’s business units set records in revenue and profitability, with the data center segment benefiting from AI training and inference workloads that require dense, high‑value memory.
Sur notes that while margin expansion could slow from current high levels, he believes these margins should remain durable thanks to limited new supply before FY28 and a shift toward higher‑value products like HBM and data center NAND. He also highlights Micron’s operating leverage and aggressive capacity build‑out, supporting his view that earnings and revenue can keep rising even if gross margins plateau.
This N‑star analyst ranks 33 out of 12068 on TipRanks, with a success rate of about 66.94% and an average return of 31.0% per rating, adding weight to his bullish stance on Micron. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.