TD Cowen Reiterates Micron Buy Rating with $1,600 Price Target

Key Facts

1TD Cowen reiterated a Buy rating and a $1,600 price target for Micron Technology stock.

2Nearly 50% of total revenues are projected to be covered by long-term supply and capacity agreements.

3Analysts noted that physical supply constraints and robust demand will boost DDR average selling prices through 2027.

Amid the accelerating race for AI technologies that demand superior memory capabilities, TD Cowen has reiterated its Buy rating for Micron Technology, maintaining a high price target of $1,600. The firm projects that nearly 50% of Micron's total revenues will be secured through long-term supply and capacity agreements, providing significant visibility into future earnings. Analysts noted that structural physical supply constraints combined with robust demand are expected to drive DDR average selling prices higher through 2027.

This bullish outlook comes as the semiconductor industry experiences a surge in demand for High Bandwidth Memory (HBM), where Micron competes with industry giants like SK Hynix and Samsung. Per market data, MU shares are currently trading at levels that reflect investor confidence in the company's ability to capture a larger market share in the data center segment. Recent earnings reports from sector peers, such as Nvidia, have further bolstered positive sentiment across the industry due to massive AI infrastructure spending.

Regarding price action, MU closed at $979.3 on July 10, 2026, indicating a substantial upside potential relative to TD Cowen's target. Traders are currently monitoring support levels near the recent daily low of $954.13. With no immediate technology-specific catalysts in the upcoming economic calendar, market focus will likely remain on global supply chain developments and any further analyst revisions within the semiconductor space.