Wolfe Research Hikes Micron Target to $1,250 on Sustained Memory Demand

Key Facts

Amid the ongoing semiconductor boom fueled by artificial intelligence demand, Wolfe Research has aggressively raised its price target for Micron Technology from $550 to $1,250 while maintaining an 'Outperform' rating. The revision is driven by a revised memory model that anticipates sustained increases in DRAM pricing. The firm expects that memory demand will outpace supply through at least 2027, leading to projected 2027 revenue of $226.5 billion and earnings per share of $135.

This bullish outlook aligns with broader industry trends where peers like Samsung Electronics have reported surging memory division profits, and institutions such as Morgan Stanley have highlighted the supply-demand imbalance in High Bandwidth Memory (HBM). Per market data, this new target positions Micron as one of the most high-conviction plays in the sector, reflecting a significant premium over previous consensus estimates for the semiconductor giant.

In recent trading, MU shares stood at $981.61 (close June 12, 2026), having fluctuated between a session high of $1,012.62 and a low of $960.19. Investors are closely monitoring these technical levels as the stock approaches the psychological $1,000 mark. Looking ahead, market participants will focus on the upcoming U.S. CPI inflation data on June 10, 2026, as a key catalyst for broader sentiment in high-growth technology stocks.