In spite of the fact that Micron Technology, Inc. (Nasdaq: MU) stock faced macro bearishness over the past two quarters, Mark Li, a Wall Street analyst at Bernstein, has reaffirmed a bullish outlook for a new all-time high over the next 12 months.
Li maintained a ‘Buy’ rating on Micron stock in a note sent to the firm’s clients on Tuesday, which Finbold analyzed on October 28, 2026. The analyst reiterated MU’s $1,300 price target.
As Micron stock traded at $963.21 during Wednesday’s pre-market session, the analyst signals a potential 35% upside over the next 12 months. This bullish thesis is centered on renewed artificial intelligence (AI) buildout.
Furthermore, he argued that MU’s uptrend could be fueled by the Dynamic Random Access Memory shortage, which remains more acute and prolonged than previously anticipated.
Amid the current memory cycle, and combined with multi-year visibility from strong contract pricing, Bernstein expects Micron stock to rally over the coming quarters.
Micron stock price prediction
At press time, 29 Wall Street analysts surveyed by TipRanks over the past 3 months had set an average 12-month price target for Micron stock at $1,621.67.
This MU’s strong ‘Buy’ average rating indicates a possible 68.36% uptick by late October 2027.
Is MU a good stock to buy?
Over the last 12 months, MU rocketed by more than 334.05%, thereby pumping its market capitalization to $1.1 trillion at the time of publication.
Although Micron stock has been choppy since hitting its ATH in mid-June this year, Wall Street analysts are highly confident that another bull run to a new peak could materialize over the next 12 months.
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