$MU — D.A. Davidson has raised its 12-month price target for Micron Technology to a Street-high $3,000, implying roughly 187% upside from Tuesday’s close, while maintaining a Buy rating.
Analyst Gil Luria believes investors are still underestimating Micron’s potential, with AI-driven memory demand expected to remain stronger than supply through 2027 and 2028. The company’s push toward long-term strategic customer agreements and potential share buybacks could provide additional support.
Despite a recent pullback linked to semiconductor weakness and concerns around a potential strike in Taiwan, Micron has already surged 266% in 2026 and 463% over the past year.
If AI demand continues accelerating, this rally may have much further to run.