Micron Technology Price Targets Raised Amid AI-Spending Outlook

Several analysts have raised their price targets for Micron Technology, citing an increased spending outlook for AI. Multiple sources have updated their estimates, with some expecting the stock to reach as high as $615 and others predicting a value between $461.73 and $700. The updates come despite the content of the news articles being limited.

Multiple Wall Street analysts raised their price targets for MU following the company's record fiscal Q2 earnings report, citing an increasingly bullish outlook for AI-driven memory spending. Morgan Stanley, Wells Fargo, Bank of America, and BNP Paribas all updated their forecasts higher, reflecting confidence in Micron's positioning as AI infrastructure buildout accelerates.

The upgrades come after Micron reported Q2 revenue of $23.86 billion, nearly tripling year-over-year, with adjusted EPS of $12.20 versus the $9.31 consensus. Analysts are particularly focused on Micron's high-bandwidth memory (HBM) products, which are critical components in AI training and inference hardware from NVDA and other chip designers. The supply-demand imbalance in AI memory is expected to persist through 2027.

Despite the optimistic analyst consensus, some caution is warranted. Micron's stock has already surged significantly, and the $25 billion capex plan raises questions about near-term free cash flow generation. Investors should weigh the raised price targets against the stock's current valuation and the potential for cyclical memory price corrections as new capacity comes online.