Micron Stock (MU) Rises as Citi Sees ‘Significant Beat and Raise’ for Q1 2026

Shares in American memory chipmaker Micron Technology (MU) rose over 2% on Wednesday afternoon as Wall Street continues to express bullish expectations for its Q1 2026 results to be delivered on December 17.

Christopher Danely, a five-star analyst from Citi, joined the bullish team, noting that he expects the Idaho-based company to post a “significant beat and raise” during the quarter. Danley believes that this will be backed by “unprecedented increases” in the market pricing of Dynamic Random Access Memory (DRAM), a type of memory hardware that temporarily stores data to help computers and servers run efficiently and multitask easily.

Across Wall Street, analysts expect Micron to grow its revenue by about 47% to $12.78 billion, up from $8.71 billion a year ago. This performance is expected to help the firm reach earnings per share of $3.90 — a nearly 120% year-over-year jump.

Micron Sells Out HBM for 2026

Danely raised his price target by about 9% from $275 to $300, implying almost 16% growth potential from current trading levels. He noted that Micron has already committed all of its high‑bandwidth memory (HBM) production capacity for 2026 to customers.

HBM is an ultra-fast, layered memory that boosts performance in AI and big data tasks. The analyst pointed out that these HBM commitments will help Micron to strengthen its capital base, even as producers continue to negotiate long-term supply deals in the DRAM market.

Wall Street Backs Micron

Over the past few days, Deutsche Bank, HSBC, and Goldman Sachs have also elevated their MU price targets. HSBC analyst Ricky Seo, who initiated coverage on the stock with a Buy rating, argued that investor concerns about financial risks tied to newer cloud companies and the Stargate Project are overblown.

Adding to this, Goldman Sachs analyst James Schneider contended that Micron benefits from the supply squeeze in memory chips more than is widely reflected in investor expectations.

Last week, Micron revealed plans to shelve its “crucial” consumer memory business to focus its efforts on the supply of high-end components required for AI workloads. The American firm is now competing with South Korea-based rivals such as SK Hynix and Samsung Electronics (SSNLF) to supply HBM chips to semiconductor manufacturers.

Is MU a Good Stock to Buy?

Across Wall Street, analysts hold a Strong Buy consensus rating on Micron’s shares based on 27 Buys and three Holds issued by 30 analysts over the past three months.

However, the average MU price target of $249.59 implies over 3% downside risk.

See more MU analyst ratings here.