Micron Technology (NASDAQ: MU) shares continued their blistering 2026 run on Tuesday, climbing roughly 2.5% to $698.74, following a recent pullback in the stock over the last few sessions.
The move brings the memory giant’s year-to-date gain to approximately 136.8% from its year-end 2025 close of $285.41, as a fresh wave of Wall Street price target increases reinforced the bull case for the world’s leading memory chipmaker.
Mizuho kicked off Tuesday’s action by raising its price target on Micron to $800 from $740 while maintaining an Outperform rating on the shares.
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The firm upped price targets across the semiconductor space after analyzing the impact of AI data centers on both the analog and memory markets. Channel checks point to sustained demand for NAND and DRAM from AI server buildouts, with analog also continuing to benefit from AI server ramps.
Mizuho expects supply to remain tight well into the first half of 2027 and flagged an additional potential catalyst: a looming Samsung labor strike that could further constrain the already tight memory supply chain.
The Mizuho note follows a pair of dramatic target raises on Monday. Melius Research nearly doubled its price target on Micron to $1,100 from $700, keeping a Buy rating and calling the chipmaker one of its top “bottleneck stocks,” arguing that semiconductors are set to take market cap from traditional software companies and non-semi Mag 7 names over the long term.
The firm also raised long-term estimates across other Buy-rated names, including Sandisk, AMD, Intel, and Marvell.
Citi was equally aggressive, lifting its target on Micron to $840 from $425 — also with a Buy rating — pointing to a 40% DRAM price hike by Micron in calendar Q2, following Samsung’s aggressive 100% increase in Q1.
The bank expects the DRAM upcycle to last through calendar 2027 and sees HBM pricing moving higher in 2027, as tight capacity and disciplined supply additions support a strong pricing environment across AI data centers.
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