Micron’s AI Memory Boom Fuels Fresh Wall Street Euphoria

Micron ( (MU) ) has risen by 9.45%. Read on to learn why.

Micron shares climbed 9.45% over the past week as investors piled into the memory-chip maker ahead of its March 18 Q2 FY26 earnings report, betting that the AI boom and a tight memory market will keep driving profits higher. Wall Street expects a huge jump in performance, with earnings per share projected to surge more than 460% and revenue to more than double, powered by strong demand for DRAM and NAND used in data centers, smartphones and SSDs. TipRanks’ Crowd Wisdom data also shows very positive retail sentiment, with more investors adding Micron to their portfolios in recent days.

The rally has been reinforced by a wave of bullish analyst calls and aggressive price-target hikes. Citi, Susquehanna and Aletheia have all raised their targets, with Aletheia lifting its view to a Street‑high $650 as it forecasts Micron could generate $150–$200 billion in cash flow between FY26 and FY27 and grow into one of the world’s largest chip suppliers. Analysts say memory pricing is running stronger than expected, with DRAM and NAND contract prices rising sharply and some deals seeing triple‑digit increases, which should translate into powerful revenue and margin gains.

High‑bandwidth memory (HBM), a critical component for AI accelerators, is at the center of the story: Micron’s HBM capacity for 2026 is reportedly already sold out, with orders extending into 2027, reducing the usual boom‑and‑bust risk that haunts the memory industry. Several analysts now expect Micron’s upcoming results and guidance to beat consensus, with gross margins potentially reaching historic highs. While one high‑profile analyst has turned cautious on valuation after the stock’s massive run over the past year, the broader Street remains firmly bullish, with a Strong Buy rating and expectations for further upside if the current pricing cycle and AI‑driven demand hold.