- Micron Technology’s stock closed at $949.28 on June 8, 2026, up nearly 10% for the day, fueled by the AI memory chip boom.
- Analysts are issuing aggressive new price targets, including $1,750 from Susquehanna, with a $1,500 target supported by projected fiscal 2027 EPS of $103 and a 15x P/E multiple.
- The company reported Q2 2026 revenue of $23.9 billion, a 195% year-over-year surge, with its HBM chips sold out for all of 2026.
- Despite a recent pullback, Micron’s forward P/E of around 10 and a five-year PEG ratio of 0.37 suggest the stock may be undervalued relative to its growth trajectory.
In June 2026, Wall Street is fixated on a staggering $1,500 price target for Micron Technology stock, a prediction gaining serious traction as the AI memory chip revolution reshapes the company’s future. Shares closed at $949.28 on June 8, marking a nearly 10% single-day gain and a dramatic rise from a 52-week low of $103.38, according to data from Yahoo Finance.
The math behind the call is straightforward, relying on fiscal 2027 earnings projected at around $103 per share. Applying a modest 15x price-to-earnings multiple to that figure lands the stock near $1,545, a calculation not deemed aggressive by analysts. Consequently, major firms have revised their outlooks, with UBS tripling its target to $1,625 and Susquehanna setting a $1,750 target.
This optimism stems from explosive financial performance, as Micron’s Q2 2026 revenue hit $23.9 billion—a 195% year-over-year jump. Meanwhile, the company guided for Q3 2026 revenue of $33.5 billion and an 81% gross margin, with demand cemented by its HBM chips being sold out for the year. The company’s position was further solidified as NVIDIA confirmed Micron as a supplier for its Vera Rubin AI chip architecture.
However, a brief pullback on June 5 saw the stock dip roughly 12% to around $874, largely due to broader market factors. This temporary decline did not alter the core Micron Technology earnings outlook for 2027. Therefore, the $1,500 prediction remains a realistic scenario, built on actual numbers rather than hype, as long as AI infrastructure spending continues its relentless pace.
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