Micron (MU) stock price climbed to an all-time high of $1,089.95 following TD Cowen’s Krish Sankar raising the stock’s price target from $660 to $1500. Sankar also anticipates attractive profit margins when it reports earnings on June 24, 2026. MU has been riding the AI-driven wave that has engulfed the stock market. Despite the upswing, competition and overbuying pose significant threats to MU’s price. Let’s discuss.
Is Micron Stock Overbought Amid New All-Time High?
Micron’s (MU) RSI (Relative Strength Index) was at 76 in mid-May 2026. The figure is currently hovering just below the 70 mark. An RSI above 70 usually means that an asset is in the overbought area. MU’s RSI even climbed to the 90 mark earlier this year. The last time MU’s RSI was at the 90 level was in 1995 when it hit 96.
Micron (MU) has been among the best-performing stocks of 2026. The company’s memory chips are a vital part of the AI boom. However, competition from Samsung and SK Hynix could pose a challenge for the stock to sustain its rally. While the competition is strong, Micron (MU) has reportedly sold its entire 2026 supply. The high demand for memory chips amid rising demand for AI products will likely lead to a strong earnings report later this month. While the stock may be hovering near the overbought region, RSI has been going down over the last month. The dipping RSI could also be a strong buy signal for investors.
Also Read: Will Micron Stock Drop? SK Hynix & Samsung Tighten Their Grip on HBM
Apart from Sankar, several other industry experts have painted a bullish picture for Micron (MU). RBC Capital’s Srini Pajjuri increased MU’s price target from $525 to $1200, with a “buy” position. Cantor Fitzgerald’s CJ Muse increased the stock’s target from $700 to $1500. Given the market environment around AI-related equities, chances are high that MU will sustain its upswing in the times ahead. However, OpenAI and Anthropic’s IPOs could drain some liquidity from MU’s market.