On June 11, Micron Technology rises 4%% in pre-market trading, rebounding from declines in the prior two sessions.
The rebound comes amid a wave of aggressive analyst upgrades. Goldman Sachs raised its 12-month target price from $400 to $900, lifting FY2026/2027 revenue and non-GAAP EPS estimates by an average of 28% and 36% respectively, citing tighter supply conditions and surging memory chip demand. Daiwa Securities raised its target from $700 to $1,600 maintaining a Buy rating, while UBS issued a $1,625 target price with a Buy rating, noting memory supply tightness could persist two to three years. Cantor Fitzgerald set a $1,500 target with an Outperform rating.
Ahead of Micron's fiscal Q3 earnings report scheduled for June 24, Goldman expects revenue of $37.6 billion versus consensus of $34.4 billion, driven by strong DRAM pricing trends and Micron's approximately 20% HBM market share. The stock has gained over 220% year-to-date on AI-driven high-bandwidth memory demand.
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