Micron Technology's stock has surged over 266% in 2026 and 463% over the past year, largely due to a boom in artificial intelligence that has created a shortage of memory components essential for data management and storage. D.A.
Davidson has increased its 12-month price target for Micron from $2,100 to $3,000, suggesting a potential upside of 187% from the stock's recent closing price of $1,045.56.
Analyst Gil Luria noted that investors are just beginning to recognize Micron's value, and he believes that the demand for memory will continue to outpace supply in the coming years, particularly as AI models require more memory for improved performance.
Micron's strategy to secure 50% of its revenue through long-term customer agreements provides additional stability, as these contracts are not easily cancelable, ensuring predictable sales. This positive outlook aligns with the broader market sentiment, where 46 out of 50 analysts rate Micron as a buy or strong buy, reflecting strong confidence in the company's future prospects