Micron (MU) has been one of the hottest stocks in the US market. The recent AI-based stock surge has propelled several companies to new all-time highs, with MU hitting a peak closing price of $1,079.57 earlier this month. Not only that, several analysts are quickly increasing their price targets for MU.
Micron (MU) Stock Gets Buy Signal from Wells Fargo And Others
Micron’s (MU) stock price has already surged by 170% so far in 2026. Well Fargo anticipates the stock price to continue its upward momentum. Well Fargo’s Aaron Rakers recently increased Micron’s (MU) target from $550 to $1220. Rakers also gave the stock a “buy” signal.
Rakers is not the only analyst to increase Micron’s (MU) price target by such a magnitude. Cantor Fitzgerald’s CJ Muse has increased MU’s target price from $700 to $1500.
Raymond James analyst Melissa Fairbanks also paints a bullish picture for Micron (MU). Fairbanks states that the market has never seen such demand.
Also Read: Micron Stock Will Explode After June 24: Here’s Why
Micron’s (MU) rapid upswing is due to high demand for its memory chips for AI use. The company’s DRAM and NAND memory chips are in high demand and supply is sold out for the next several years.
Risks You Should Consider
Micron (MU) seems to be riding the AI market wave. While AI has been a dominant factor in the global stock market over the last few years, there are some risks you should keep in mind. Firstly, global supply chains have been called into question amid an ongoing war in the Middle East. The war has led to a surge in crude oil prices which have consequently impacted inflation figures. The development could lead to interest rates staying high for a longer period.
Secondly, many experts, including Michael Burry, have said that the stock market is experiencing an AI bubble. If we are indeed in a bubble, there could be dire consequences for assets that are hinged on the AI surge, especially stocks such as Micron (MU). Stock markets around the world faced steep crashes on Monday. South Korea had to halt trading for about 20 minutes after hitting circuit break. Japan also saw massive outflows from the Nikkei 225.
And thirdly, we have three major IPOs coming to the US; SpaceX, Anthropic, and OpenAI. The highly anticipated IPOs could drain liquidity from Micron (MU) and move it into the three companies.