Shares in Micron (MU) stock have broken above $310 for the first time, breaching 310.52 on Monday in what has been a big monthly surge. The semiconductor manufacturer has seen its shares rocket up over 30% since December 5, while also maintaining a +200% rally since the beginning of 2025. With Micron even outperforming powerhouse Nvidia in that span, analysts are looking at a potential new AI darling in 2026, especially if MU stock continues to rally.
Micron’s latest earnings also topped expectations, with revenue of $13.64 billion and adjusted EPS of $4.78. Micron is even beating out the S&P’s 16.5% gain this year and is more than five times Nvidia’s 38.5% return. Therefore, MU is not only cheaper than the S&P 500 but also cheaper than almost all of its peers, while experiencing significantly higher revenue growth and operating in a sector of the AI industry that reportedly saw 88% market growth in 2024.
Additionally, retail sentiment around MU stock reached ‘extremely bullish’ territory at 93/100 on Stocktwits, with message volume jumping 566%. Despite that, Micron’s MU stock price faces mixed reactions despite strong results. Some analysts project continued growth, with EPS (earnings per share) expectations rising and strategic shifts enhancing revenue visibility. Current price targets on Wall Street range from $275 by Barclays to $500 by Rosenblatt.
Furthermore, Bernstein has just dropped a bold take on Micron Technology (MU), bumping its price target to $330 from $270. Its analysts believe that memory pricing is growing at a rapid pace, as demand for AI continues to grow, and supply expansion remains mostly constrained. That rare combination positions Micron as a unique semiconductor stock with genuine, sustained pricing power. Micron (MU) in 2026 could quietly become one of Nvidia’s biggest competitors, even more than Intel (INTC) and AMD.