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Institutional Investors Raise Micron's Price Target, Next Week's Earnings Report in the Spotlight

2 hours ago

June 18 marked another high-profile day for Micron Technology amid AI hardware trading, as the semiconductor manufacturer once again became a focal point for investors. Multiple Wall Street institutions have recently raised price targets for the storage chip maker, citing surging demand for AI servers that’s tightening supply dynamics for DRAM, HBM, and NAND. Deutsche Bank analyst Melissa Weathers lifted Micron’s target price from $1,000 to $1,500, implying roughly 47% upside from the stock’s prior closing level. FactSet data shows TD Cowen and Cantor Fitzgerald have also set matching $1,500 targets for the company. Micron’s shares have rallied dramatically this year: up about 266% since 2026, and a staggering 750% over the past 12 months. The market’s core bull case rests on AI data centers needing not only GPUs but also increased high-bandwidth storage, enterprise SSDs, and standard DRAM to support model training, inference, and AI agent workloads. TD Cowen goes further, arguing agentic AI will boost memory requirements per unit of AI computing power, extending the period of strong pricing power. RBC added that the current DRAM upcycle could last several quarters. MarketWatch notes Micron and SanDisk are trading in extremely overbought territory on technical indicators. Investors are now zeroing in on Micron’s upcoming earnings report, due after the bell on Wednesday, June 24, 2026. Key metrics to watch: shipments, pricing, gross margins, and 2026 capacity guidance. If the company fails to deliver convincing supply-demand signals, lofty expectations for storage stocks could face a widespread test. At press time, Micron closed up 2.2% and was trading 3.31% higher in after-hours trading.
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