Citi and Susquehanna Lift Micron Targets Before Earnings Despite HBM4 Rival Wins
Investors look to the March 18 report to test bullish DRAM pricing forecasts.
Overview
- Citi raised its Micron price target to $430 and Susquehanna to $525 ahead of the company’s March 18 second‑quarter results.
- Citi projects DRAM average selling prices to jump 171% year over year in 2026, with NAND up 127%, citing data‑center demand and reported Q1 DRAM price hikes at Samsung.
- Korean media reported SK Hynix and Samsung as exclusive HBM4 suppliers for Nvidia’s Vera Rubin accelerator, a claim that has not been confirmed by the companies.
- Independent analyst Richard Windsor expects Micron to join HBM4 supply later in 2026 and sees no 2026 revenue hit because capacity is already fully booked.
- Micron shares are about 15% below their Feb. 2 record, edging up to roughly $372 on Monday as the market awaits guidance on pricing and supply dynamics.