The Artificial Intelligence (AI) Stock That Wall Street Can't Stop Upgrading in 2026

Micron Technology (MU) drew a flurry of Wall Street upgrades after crushing fiscal Q3 expectations, reporting $41.46 billion in revenue against the $35.84 billion estimate and $25.11 EPS versus the $20.78 consensus. The memory chipmaker guided to $50 billion revenue for the current quarter, fueling bullish calls from multiple firms.

Deutsche Bank, DA Davidson, and Cantor Fitzgerald all raised their price targets on the stock, pointing to surging AI memory chip demand and Micron's secured long-term supply contracts as primary drivers. The beat and raise comes as data center operators race to build out AI infrastructure, creating a supply crunch for high-bandwidth memory products where Micron competes.

The revenue beat of roughly 16% above consensus underscores the structural shift in memory demand, with AI workloads requiring significantly more DRAM and NAND than traditional computing applications. Micron's forward guidance suggests management expects this momentum to accelerate through the next quarter.