Quick Read
BofA analyst Vivek Arya raised MU’s value goal to $1,550, implying 83% upside, after Micron beat EPS estimates by 24% for the eighth straight quarter.
BofA forecasts the HBM market rising to $246 billion by 2030, and Micron has locked in 16 multi-year buyer agreements to seize that demand.
Micron trades at a ahead P/E of 5 regardless of a 19% month-to-month decline tied to a broad reminiscence selloff, not company-specific weak point.
Act now: the analyst who known as NVIDIA in 2010 simply named his prime 10 AI shares — and Micron Technology did not make the lower. Grab the names FREE today.
Bank of America says Micron Technology (NASDAQ:MU) goes to $1,550, a name that suggests roughly 83% upside from the inventory’s $848.95 shut on July 17, 2026. Investors ought to affirm the worth intraday, for the reason that reminiscence title has been transferring quick in each instructions.
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Who Is Making the Call
BofA analyst Vivek Arya lifted his value goal to $1,550 from $1,500 and reiterated a Buy score, citing “another memorable beat.” Arya has additionally framed the latest chip pullback as a “summer reset” fairly than a elementary reversal. He shouldn’t be alone. TD Cowen has additionally moved to $1,500, and the Street consensus goal sits at $1,491.95, with 31 Buy and 9 Strong Buy rankings towards a single Strong Sell.
The Numbers Behind the Target
Micron’s fiscal Q3 2026 report gave the bulls loads of ammunition. Revenue landed at $41.46 billion, up 345.72% yr over yr from $9.30 billion. GAAP internet earnings was $28.24 billion, up 1,398.3%. Non-GAAP gross margin hit 84.9% (GAAP 84.6%, up from 37.7% a yr in the past), and non-GAAP diluted EPS of $25.11 topped the $20.28 consensus by 23.79%, the eighth straight quarterly beat.
Cloud Memory generated $13.77 billion, with Core Data Center and Mobile and Client every at $11.52 billion and Automotive and Embedded at $4.63 billion.
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The Structural AI Thesis
BofA argues reminiscence chips, particularly high-bandwidth reminiscence (HBM) for AI accelerators, are shifting from a cyclical commodity right into a long-term AI theme. The agency raised its international semiconductor gross sales forecast to $2.7 trillion by 2030, up from $2.3 trillion, and tasks the HBM market might attain roughly $246 billion by 2030, up from about $35 billion. Micron has signed 16 multi-year Strategic Customer Agreements that lock in pricing visibility, together with a brand new supply-and-investment partnership with Anthropic introduced in June 2026.
