Micron Stock (MU): Price Target Raised to $300 As Earnings Estimate Jump

Micron Technology's stock (NASDAQ:MU) has been on the move recently, up 12.50% over the past 5 trading days, and a mighty 175% since the start of the year.

MU bulls have been given a further boost today following Wolfe Research's significantly increased price target, adding 50% to their previous mark, driven by surging demand for DRAM and NAND memory fueled by the rapid growth of artificial intelligence. 

The new price target of $300, a substantial increase from the previous $200, signals strong confidence in Micron's ability to capitalize on the burgeoning memory market. This revision comes as DRAM and NAND spot average selling prices have seen dramatic increases, soaring 4.5 and 2.5 times year-over-year, respectively. This dynamic pricing environment directly benefits Micron, a leading manufacturer of these critical components.

Wolfe Research also raised its fiscal year 2026 and 2027 earnings estimates for Micron, citing the “major jump” in demand in commodity memory directly attributable to AI growth. This suggests that analysts anticipate sustained high demand and pricing power for Micron's products well into the future. The firm's analysis underscores the transformative impact of AI on the memory market, positioning Micron as a key beneficiary of this technological revolution.

Micron's strategic positioning in the memory market, coupled with the unprecedented demand driven by AI applications, provides a strong foundation for future growth. The company's ability to innovate and deliver high-performance memory solutions is crucial in meeting the evolving needs of AI developers and data centers. As AI continues to permeate various industries, the demand for memory solutions is expected to remain robust, further bolstering Micron's financial prospects.