$MU Analysts’ price targets for Micron keep getting higher—the average is now up to $1,500. Morgan Stanley is holding firm at $1,200, UBS is calling for $1,625, and the most bullish, KeyBanc, has set a target of $1,750—nearly double the current price.
What’s driving the optimism? HBM4 just entered mass production, and Micron has already sold more than $1 billion worth this year. Even more impressive, its entire 2027 production capacity is already sold out, with customers rushing to sign agreements that run through 2031. Micron executives have said the company can currently meet only half of customer demand—supply just can’t keep up.
The company has also approved a $35.1 billion share buyback, effective December 9. A buyback of this scale at these levels suggests management believes its own stock is undervalued.
The stock is now down to around $890. After such a big run-up, a normal pullback is to be expected, and it hasn’t even broken below its key long-term moving averages. Wall Street has 27 Buy ratings and just 1 Hold, with an average price target of $1,621. I’m bullish—the current pullback is a chance to buy the dip.
What’s driving the optimism? HBM4 just entered mass production, and Micron has already sold more than $1 billion worth this year. Even more impressive, its entire 2027 production capacity is already sold out, with customers rushing to sign agreements that run through 2031. Micron executives have said the company can currently meet only half of customer demand—supply just can’t keep up.
The company has also approved a $35.1 billion share buyback, effective December 9. A buyback of this scale at these levels suggests management believes its own stock is undervalued.
The stock is now down to around $890. After such a big run-up, a normal pullback is to be expected, and it hasn’t even broken below its key long-term moving averages. Wall Street has 27 Buy ratings and just 1 Hold, with an average price target of $1,621. I’m bullish—the current pullback is a chance to buy the dip.