Micron Technology (MU), the memory chipmaker, is drawing strong attention from Wall Street as analysts continue to raise price targets. The stock has rallied 90% year-to-date and more than 570% over the past year, driven by the robust demand for memory solutions amid the ongoing AI boom.
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However, a wide gap in individual expert forecasts suggests growing debate over how much upside is left in the stock. With one analyst calling for a four-digit price target of $1,000, while others see downside, investors are questioning how realistic the bullish view is.
Expert Consensus on MU Stock
Wall Street remains highly bullish on MU, with 27 out of 30 analysts giving the stock a Buy rating. Analysts’ price targets range from a low of $400 to a high of $1,000.
Street-High $1,000 Price Target Stands Out
The biggest call comes from D.A. Davidson analyst Gil Luria, who recently initiated coverage with a $1,000 price target. This implies about 73% upside from current levels, making it the highest price target on the Street.
Luria said artificial intelligence is driving a longer-than-usual memory cycle, supporting stronger pricing and demand. He believes the market is still viewing this cycle like past downturns and is underestimating demand, especially compared to the broader semiconductor sector. He also sees meaningful upside in MU stock, supported by the company’s technology leadership and long-term earnings potential.
Lowest Price Target of $400 Shows Caution
Not all analysts share the bullish view on MU. The lowest price target on the Street is $400, implying about 30% downside from the recent price of $542.21.
This wide gap suggests that some analysts remain cautious, pointing to cyclical risks and concerns that expectations around AI-driven growth may be too optimistic.
Most Analysts See Moderate Upside
Between these two extremes, several other experts have recently reiterated their conviction in the stock’s growth:
- Ben Reitzes (Melius Research): Initiated a Buy rating on April 27 with a $700 target, seeing 29.10% upside.
- Krish Sankar (TD Cowen): Reiterated a Buy rating on April 28 with a $660 target, representing a 21.72% upside.
- Jim Hin Kwong Au (DBS): This five-star analyst reiterated a Buy rating with a target range that sees at least 17.30% upside.
These more moderate targets suggest solid upside, even if they fall well below the most aggressive $1,000 call.
Who Is the Best Analyst Covering MU Stock?
Interestingly, TD Cowen Analyst Krish Sankar is the most accurate analyst covering MU over the past year. He has a success rate of 94% and an average return of 113.25% per trade. On TipRanks, Sankar is ranked #19 out of more than 12,000 analysts tracked, adding more credibility to his bullish view on MU stock.
