‘Buy Micron Stock Ahead of Earnings,’ Says Wedbush

Shares of Micron Technology (MU) are up today after Wedbush kept its Outperform rating on the chipmaker while increasing its price target from $130 to $150 ahead of Micron’s Q3 earnings report on June 25. Analysts led by five-star-rated Matt Bryson believe that memory chip prices, like DRAM and NAND, started improving in the second calendar quarter. Although they no longer expect a big price jump in the second half of 2025, they still think prices will go up in the coming quarters.

For the current quarter, Micron had forecast stronger shipments but expected lower prices and profit margins. This was mainly due to a higher mix of consumer-focused products, which helped boost sales volume but pulled down average selling prices. However, Wedbush now believes that the pricing and product mix turned out better than Micron’s original guidance, so it raised its Q2 estimates to the high end of Micron’s projected range.

Looking ahead to Fiscal Q4 2025 and Q1 2026, Wedbush lowered its very bullish forecasts and now expects smaller price gains, likely in the low to mid-single digits instead of large gains. However, for the full fiscal year 2026, Wedbush raised its growth expectations for High Bandwidth Memory (HBM) due to strong demand for AI and new government technology projects. As a result, Bryson’s team said that this growing HBM demand is good for Micron’s numbers and a positive trend for the whole memory chip industry.

Is MU a Good Stock to Buy Right Now?

Overall, analysts have a Strong Buy consensus rating on MU stock based on 16 Buys, three Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average Micron price target of $122.65 per share implies that shares are fairly valued.

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