Veteran analysts drop shock call on Micron stock after historic run

Micron Technology (MU) is the explanation of a “crowded winner.”

This benignant of bullishness is rare. Targets cannot support up. Instead, it looks similar even bullish terms targets cannot support up; they’re chasing the tape.

Shares were precocious changing hands for $382.89 (Feb. 6, 2026), disconnected their $455.50 52-week high, but inactive sitting connected an eye-popping tally that took MU from $201.37 connected Nov. 20, 2025, to $430.28 by Jan. 28, 2026, a 114% determination successful a small implicit 2 months.

How is Micron managing to bash each of this? Pricing is wherever the astir wealth tin beryllium made successful the semiconductor cycle, which means Micron is sitting connected a golden mine.

The existent situation is framed arsenic a global memory-chip shortage driven by AI infrastructure buildouts, Reuters reported. That shortage is present becoming acute, bleeding into user tech, including smartphones.

This contented is important, Reuters notes. That's due to the fact that representation is similar a weapon fight. As proviso increases, prices decrease, destroying margins. This time, proviso has had a hard clip keeping up, and request (particularly for information centers) is taking parts distant from "normal" devices.

And this occurrence is not simply a 2026 narrative. Micron is explicit astir expanding capacity. It includes an approximately$24 cardinal concern implicit 10 years successful Singapore, with wafer output targeted for the 2nd fractional of 2028 and 700,000 quadrate feet of cleanroom space.

That proviso is long-dated, though. The marketplace is reacting to what's going connected close now: choky memory, choky HBM, and consumers battling for space.

Here’s the fascinating portion for me.

After a tally similar MU's, you’d expect analysts to get cautious. However, surprisingly, the marketplace is leaning successful further, intensifying its bullish views connected the stock.

• Mizuho’s Vijay Rakesh raised his terms people to $480 (from $390), according to MarketWatch, with commentary tied to a “desperate” representation marketplace and sustained pricing tailwinds.

• HSBC raised its people to $500 (from $350) portion keeping a buy rating, Investing.com reported.

• Barclays lifted its people to $450 (from $275) and reiterated overweight (with Wells Fargo besides lifting to $410).

• Piper Sandler hiked to $400 (from $275), arguing proviso tightness supports pricing done 2026 and noting that calendar 2026 proviso is “effectively sold out.”

There is 1 item that stands out. Piper spoke astir expert predictions that fiscal twelvemonth 2026 EPS would beryllium astir $33.56. If MU's net powerfulness really does get to that level, its worth mightiness inactive look startlingly inexpensive. Despite the astronomical rise, this remains the case.