Micron Soars Over 250% This Year; Wall Street Bullish Ahead of Earnings, UBS Wildly Bullish to Above $1,600
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Micron Technology shares rose nearly 5% to approach historical highs on June 18, Eastern Time, driven by sustained demand for AI-linked HBM and high-end DRAM. Following a 253% year-to-date rally, the firm has joined the trillion-dollar market cap club. Major investment banks maintain bullish ratings, with UBS setting a $1,625 target. Investors are now focused on the June 24, Eastern Time, earnings release. Key metrics, including 5-year strategic agreement updates and the sustainability of gross margins above 80%, will be critical in determining whether the stock can meet aggressive analyst price targets.
TradingKey - Micron Technology rose another 5% today, once again approaching its historical high, as many investment banks remain bullish on the stock hitting new highs.
On June 18, Eastern Time, storage concept stocks surged collectively in pre-market trading, among which Micron Technology ( MU) surged nearly 5%, with its share price once again nearing its historical high, temporarily trading at $1,099. In terms of news, financial firm Aletheia Capital significantly raised its price forecasts for DRAM and HBM memory.
Since the start of 2026, catalyzed strongly by the AI infrastructure construction boom, particularly in high-bandwidth memory (HBM) and high-end DRAM, Micron's stock price has experienced an explosive rally. To date, Micron's cumulative gain has reached as high as 253%, with its stock price soaring from around $315 at the beginning of the year to break through the $1,000 mark, and its market capitalization surpassing $1.18 trillion, successfully joining the trillion-dollar market cap club.
Micron Technology stock price chart, Source: TradingView
Despite Micron's spectacular performance, several Wall Street investment banks have still maintained "Buy" or "Strong Buy" ratings ahead of its earnings report, with target prices continually rising. Among them, UBS has set the street-high target of $1,625 (about 48% higher than the current share price), as shown below:
Institution | Latest Target Price (USD) | Bullish Case |
Citi | $1,200 | Long-term supply agreements with strategic customers |
Wolfe Research | $1,250 | Simultaneous price increases for DRAM and NAND |
TD Cowen | $1,500 | Significant increase in DRAM capacity per server |
Deutsche Bank | $1,500 | AI memory supply shortage to extend to 2028 |
Aletheia Capital | $1,600 | Valuation multiple re-rating in 2027 |
UBS | $1,625 | Dominant position in the HBM market and pricing power in traditional DRAM |
As can be seen from the table above, the core reason for Wall Street's collective frenzy lies in its HBM and high-end DRAM. It is worth emphasizing that in the future, whether OpenAI, Google ( GOOG) or Meta ( META) wins the large model race, as long as computing power expands and AI agents evolve, HBM and high-end DRAM will remain indispensable physical foundations, and Micron will benefit from this.
After the market closes next Wednesday (June 24), the company will release its latest financial results. At that time, whether management will announce the closing of more 5-year strategic customer agreements and whether the third-quarter gross margin will hold steady above the 80% mark as expected will directly determine whether Micron, with Wall Street's backing, can achieve its wild target of $1,500 to $1,600.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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