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MUMicron Technology, Inc.
$971.66$1.10T
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Micron Technology, Inc. (MU) Research Brief

Wall Street consensus, price target range, and equity research thesis

Buy70 Analyst Coverage
Consensus Target
$1562+60.7% Upside
Current: $971.66
Analyst Range
Low $1100High $2200
12-Month High/Low Spread
Ratings Mix
57 Buy·11 Hold·2 Sell
Earnings & Valuation
EPS Beat 19.7%
Forward P/E: 13.3x

Executive Summary & Research Take

Wall Street currently rates MU buy with a 12-month price target of $1562 (+60.7% upside). The sections below cover the bull case, key risks, and latest earnings context for Micron Technology, Inc..

Recent Analyst Actions

MU Analyst Upgrades & Price Target Changes

14 of 14 analysts raised targets. Recent price target changes and ratings for MU.

Updated Jun 2026
FirmActionRatingPrice Target
Wolfe ResearchRaisedOutperform$550$1250
Goldman SachsRaisedNeutral$400$900
Wells FargoRaisedOverweight$550$1220
Cantor FitzgeraldRaisedOverweight$700$1500
Morgan StanleyRaisedOverweight$520$1050
Raymond JamesRaisedOutperform$530$1100
SusquehannaRaisedPositive$600$1750
DA DavidsonRaisedBuy$1000$1500

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Analyst Research Summary

Investment Thesis: Bull Case & Risk Factors

A structured look at the bull case, the risks, and the most recent earnings execution for MU.

Current setup

MU beat estimates last quarter. Below are the key reasons analysts remain constructive and the risks that could change that view.

Bull Case

What keeps the long thesis intact

  • AI Memory DemandMicron's HBM capacity for 2026 is reportedly sold out, driven by insatiable demand for AI computing power.
  • Strong Financial PerformanceQ2 FY2026 revenue surged by 196% year-over-year to $23.86 billion, with non-GAAP EPS increasing by 682%.
  • Strategic Customer AgreementsMicron has secured a five-year Strategic Customer Agreement, ensuring multiyear demand visibility.
  • Analyst Optimism and Price TargetsAnalysts have set price targets for MU ranging from $550 to $1,000 per share, reflecting strong demand expectations.
  • Low Valuation MultipleMicron is trading at a forward P/E ratio below 5 based on fiscal 2027 estimates, indicating significant upside potential.

Wall Street rates MU buy, giving the bull case institutional backing from 70 analysts.

Watch Out For

What can break the setup quickly

  • Cyclical Nature of Memory MarketThe semiconductor memory market is cyclical, and a downturn could lead to oversupply and price erosion.
  • Intense CompetitionMicron faces significant competition in the memory chip market, which could impact pricing and market share.
  • Execution RiskSuccess relies on the ramp-up of HBM4 production; any delays could negatively affect stock performance.
  • Market Shocks and VolatilityMicron has historically shown higher volatility, with average drawdowns of -34% during market shocks.
  • Analyst Target DisagreementsThere is a range of analyst price targets, with some estimates significantly lower, indicating caution.

Watch whether new negative commentary on MU points to these structural risks or is simply reacting to short-term price moves.

MU Earnings Reaction — What the Last Quarter Showed

Last Quarter

EPS
$25.11 vs $20.98 est.Beat 19.7%
Revenue
$41.5B vs $35.9B est.Beat 15.4%
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MU — Frequently Asked Questions

Quick answers to the most common questions about buying MU stock.

What is the analyst consensus on MU?
Verdict

MU looks attractive at current levels — Wall Street's consensus rating is "Buy" with a $1562 price target (+60.7% upside from $971.66). This is informational only — verify the data and consider your own risk tolerance before deciding.

What are recent analyst rating changes for MU?
Timing

Timing depends on your horizon, but the data signals are: consensus rating "Buy" with +60.7% upside to the $1562 target. In the past 30 days, 14 of 14 covering analysts raised their price targets — a bullish signal.

What is the price target for MU stock?
Price Target

MU's consensus 12-month price target is $1562, set by 70 Wall Street analysts. The bull case high is $2200 and the bear case low is $1100. From the current price of $971.66, this implies +60.7% upside.

Is MU overvalued or undervalued?
Valuation

MU appears undervalued — the $1562 consensus target is +60.7% above today's $971.66. It trades at a forward P/E of 13.3x. Targets range from $1100 (bear) to $2200 (bull), reflecting different assumptions about growth and margins.

What were MU's latest earnings results?
Earnings

MU reports next quarter. Earnings-week moves are volatile — historically, analyst targets revise upward after a beat and downward after a miss. The current consensus is "Buy" with a $1562 target. Consider position sizing rather than going all-in pre-print.

What is the bull case for MU?
Coverage

Of 70 analysts covering Micron Technology, Inc. (MU): 0 Strong Buy, 57 Buy, 11 Hold, 2 Sell, 0 Strong Sell — a "Buy" consensus. The 12-month price target is $1562 (range $1100–$2200). Bullish analysts outnumber bearish by more than 2-to-1.

What are the risks of investing in MU?
Risks

2 of the 70 analysts covering MU rate it Sell or Strong Sell. Common concerns include valuation stretch, slowing growth, and sector-specific headwinds — see the Bull vs. Risk cards above for the specific theses on Micron Technology, Inc..

Financial Data & Software Notice: VCP Scanner is an educational financial research database and stock screening software platform. VCP Scanner does not generate, recommend, or package trade decisions, buy/sell signals, or personalized investment advice. Consensus ratings and price targets reflect aggregated third-party Wall Street analyst research from public SEC filings. See our Terms of Service and Privacy Policy.