Micron Stock Gets a Big Wall Street Boost Ahead of Earnings

Citi analyst Atif Malik raised his price target on MU to $1,300 from $1,150, citing robust DRAM pricing and constrained memory supply fueled by AI and data center expansion. The upgrade lands ahead of the company's fiscal Q4 earnings report scheduled for Sept. 30.

MU is projected to deliver revenue exceeding $51 billion for the full fiscal year, marking more than 300% year-over-year growth. The stock has surged 270% in 2024, propelled by a sustained rally in both DRAM and NAND pricing as hyperscalers race to build out AI infrastructure.

The memory chip maker has benefited from a structural tightness in supply as demand from AI workloads and cloud buildouts outpaces production capacity. Malik's revised target reflects expectations that these pricing dynamics will persist through the near term.

While momentum remains strong, the fiscal 2027 guidance that management provides during the Sept. 30 call will be critical. Investors will be watching for signals on whether the company can sustain elevated pricing power or if normalization pressures emerge as supply gradually catches up.