Micron (MU) stock has risen 4.3% over the past week, 5.5% over the past month, and an eye‑catching 332.8% over the last year. Wall Street’s analysts are firmly bullish, forecasting strong upside over the next twelve months from a consensus price target of $536.41 versus a recent close of $444.27, backed by a StrongBuy rating.
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Analyst Vivek Arya of BofA Securities reiterated his Buy rating on Micron on March 19, 2026 and lifted his price target to $500, implying meaningful upside from current levels. Arya argues that Micron is riding a durable memory upcycle that could last into at least 2027, supported by stronger-for-longer pricing and structurally tight cleanroom capacity through around 2027–2028.
In his report, Arya highlights that memory is becoming critical to AI “tokenomics,” and that Micron’s first five‑year strategic supply agreement should smooth out the usual boom‑bust swings seen with traditional one‑year contracts. He notes that gross margins may be near peak at about 81% in the near term, which could create volatility, but still sees room for structurally higher margins versus Micron’s historical 60% peak.
Top-ranked analyst Harlan Sur of J.P. Morgan also reiterated a Buy on Micron on March 19, 2026 with a higher price target of $550, pointing to another “beat and raise” quarter. Sur sees AI-driven demand and supply tightness giving Micron strong pricing power in both DRAM and NAND, with all four business units setting records in revenue and profitability and data center products leading the charge.
Sur emphasizes that investors should not focus only on whether gross margins can expand further from roughly 81%, but on the potential revenue scale as supply additions are unlikely before FY28. He believes multi‑year customer agreements, rising demand for high-bandwidth memory and AI data center NAND, and operating leverage together support Micron’s long-term earnings power. Never miss a stock rating. Find all the latest ratings on TipRanks’ Top Wall Street Analysts page.