Micron Technology is positioned for significant growth, according to Deutsche Bank, which has upgraded its price target from $1,000 to $1,500. Analyst Melissa Weathers noted that the company's management has provided positive intra-quarter commentary regarding its financial outlook, alongside a strong trend in memory pricing.
Micron's shares have already increased by 258% this year, largely due to a memory supply shortage exacerbated by the rising adoption of AI technologies. Deutsche Bank anticipates that this trend will continue, projecting revenue for Micron to reach $35.1 billion in the upcoming third quarter, surpassing the company's own guidance of $33.5 billion.
The firm expects the supply-demand imbalance in the memory market to persist into 2026 and beyond, which could further enhance Micron's stock performance. The consensus among analysts is overwhelmingly positive, with 44 out of 47 recommending a buy or strong buy rating on Micron, reflecting a strong belief in the company's continued momentum