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Micron Soars After Multiple Firms Raise Price Targets

Wall Street raised forecasts on the view that AI-driven memory demand will outpace limited chip production, leaving investors focused on the company’s June 24 earnings report.

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Overview

  • The stock climbed about 11–12% on Thursday after a wave of analyst revisions pushed sentiment sharply higher.
  • Wolfe Research led the moves by raising its target to $1,250, while Goldman Sachs lifted its target to $900 and Wells Fargo raised its target to $1,220.
  • Wolfe updated its financial model to forecast fiscal 2027 revenue of $226.5 billion and earnings of $135 per share based on stronger DRAM and NAND price assumptions.
  • Street estimates expect Micron’s June 24 results to show roughly $19.46 in earnings per share and about $34.07 billion in revenue, making the quarter the next decisive test of the upgraded outlook.
  • Analysts point to tight cleanroom and fab capacity that could keep supply constrained through 2027, and Micron’s Clay, New York expansion and near-term earnings will determine whether higher prices and margins are sustained for customers and workers.