Micron (MU) Stock: Top Analyst Raises Price Target to $330 on Memory Supply Crunch

TLDR

• Micron stock trades at $315 after Bernstein increased its price target to $330, following a 262% surge in 2025
• Global memory chip shortage drives prices higher as AI server demand consumes manufacturing capacity
• Analyst price targets span $300 to $500, with most firms citing extended pricing power into 2026 and 2027
• Production shifts toward high-bandwidth AI memory squeeze supply for smartphones and consumer electronics
• Industry executives expect tight supply conditions to persist for months or years as AI infrastructure expands

Micron Technology shares hover near $315 after Bernstein lifted its price target to $330. The chip stock sits close to all-time highs.

Micron Technology, Inc., MU

The memory manufacturer posted 262% gains last year. That return beat nearly every major semiconductor name.

Micron jumped 72% over the past quarter. Most AI chip stocks remained flat during that stretch.

The catalyst is straightforward supply and demand economics. Memory prices keep rising while production capacity stays limited.

AI Infrastructure Fuels Memory Chip Shortage

Bernstein points to constrained supply meeting surging AI demand. This combination creates lasting pricing advantages for memory makers.

Samsung’s co-CEO described the shortage as “unprecedented” during a recent interview. Peers across the industry echo those concerns.

Supply constraints may persist for extended periods. AI data center construction continues absorbing available memory chip production.

Manufacturers are reallocating factory capacity toward specialized high-bandwidth products. These chips power AI server infrastructure.

The production shift hits consumer electronics hard. Smartphone makers and USB storage companies face tighter supplies.

Some memory segments saw prices more than double since early 2024. TrendForce data confirms the sharp pricing increases.

Investors believe the rally has further room to run. Memory chipmaker stocks advanced across global markets Monday.

SK Hynix rose 3% while Samsung climbed 7.5% in Korean trading. Micron gained 2% during U.S. market hours.

Western Digital, Seagate and Applied Digital each added over 3%. The sector-wide strength reflects broad supply tightness.

Analyst Targets Reflect Optimism Despite Rally

Wall Street maintains bullish forecasts even after Micron’s massive run. Price targets now range from $300 to $500.

Rosenblatt leads with a $500 target, representing 58.7% potential upside. The firm argues AI fundamentally changed memory’s market position.

JPMorgan and Morgan Stanley both project $350 prices. Their analysts highlight strong earnings potential through 2027.

HSBC started coverage at $330 with a Buy rating. KeyBanc holds a $325 target citing persistent supply-demand imbalances.

Bank of America set a $300 forecast after upgrading to Buy. That target sits below current prices but up from prior estimates.

CEO Sanjay Mehrotra told investors tight markets should extend beyond 2026. The timeline supports continued pricing strength.

Multiple research teams project the “supercycle” lasting into 2027. Memory markets historically alternate between gluts and shortages.

This cycle pairs exceptional demand with production limits. SK Hynix stock quadrupled last year while Samsung doubled.

Micron focuses exclusively on memory chips unlike diversified competitors. This concentration provides direct exposure to favorable pricing trends.

The company supplies critical infrastructure enabling AI systems. Data centers require massive memory capacity that outpaces current production.