- Bank of America named Micron a top investment idea, boosting shares by as much as 10% on Tuesday
- Analyst Vivek Arya raised the price target to $1,550 from $1,500 and reiterated a Buy rating, citing strong earnings
- Micron’s fiscal Q3 2026 revenue surged 345.72% year over year to $41.46 billion, with non-GAAP EPS of $25.11 beating estimates by 23.79%
- Wall Street projects 172% annual earnings growth over five years, driven by AI demand for high‑bandwidth memory
Micron (MU) received a major endorsement from Bank of America on Tuesday as a “best investment idea,” which helped fuel shares higher by as much as 10%. The cosign came as Micron’s fiscal Q3 2026 report gave bullish experts further belief in the semiconductor developer’s stock growth.
Analyst Vivek Arya lifted his price objective to $1,550 from $1,500 and reiterated a Buy rating, calling the results “another memorable beat.” He framed the recent chip pullback as a “summer reset” rather than a fundamental reversal, implying over 70% upside from the stock’s current $958.70 price, according to reports. Meanwhile, TD Cowen also raised its target to $1,500, and the Street consensus stands at $1,491.95 with 31 Buy and 9 Strong Buy ratings.
Revenue landed at $41.46 billion, up 345.72% year over year from $9.30 billion, while GAAP net income soared 1,398.3% to $28.24 billion. Non‑GAAP gross margin hit 84.9%, and non‑GAAP diluted EPS of $25.11 topped the $20.28 consensus by 23.79% for the eighth straight quarterly beat. Cloud Memory generated $13.77 billion, with Core Data Center and Mobile and Client each contributing $11.52 billion.
Micron shares have climbed 715% over the past year and stand 223% higher year‑to‑date. Wall Street forecasts the company will grow earnings at 172% annually over five years, as AI workloads demand far more high‑bandwidth memory than the industry can supply.
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