- Micron (MU) rallied after July 2026 CPI came in at 3.4%, boosting sentiment
- Stock closed 4.23% higher on Thursday and added 1.81% in pre-market
- Wall Street remains bullish with an average target of $1,569, though risks from Chinese competition loom
On Thursday, August 13, 2026, Micron (MU) surged after US inflation cooled for another month. The Consumer Price Index for July registered 3.4%, lifting investor sentiment across markets. Micron closed 4.23% higher, gaining 38.54 points, and added another 1.81% in pre-market trading.
The stock last traded above $1,000 in early July, and volatility has increased despite record revenue and earnings per share. Consequently, the rally followed a broader Asian stock market upswing driven by expectations of a Federal Reserve interest rate cut later this year.
Wall Street analysts have grown increasingly bullish on Micron. Morgan Stanley’s latest quarterly report reveals plans to increase MU exposure, and the average price target now sits at $1,569. Cantor Fitzgerald and Barclays are the most optimistic, each forecasting the stock could reach $2,000.
However, some risks remain. The memory chip sector may be nearing a cyclical peak, potentially triggering outflows by year-end. Meanwhile, rising production from Chinese semiconductor companies could threaten Micron’s market dominance and hinder its growth trajectory.
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