Despite Micron Technology, Inc. (NASDAQ: MU) stock crashing over 17% so far in October 2026, triggered by macroeconomic shifts and competitive pressures, C.J. Muse, a Wall Street analyst at Cantor Fitzgerald, expects a bull rally to a new all-time high (ATH) over the next 12 months.
Muse reiterated an ‘Overweight’ rating on Micron stock, according to a note Finbold viewed on October 21 but sent to clients on Tuesday. He also maintained the firm’s 12-month price forecast for MU at $2,000.
With MU stock trading at about $913.20 in Wednesday’s pre-market, Cantor Fitzgerald sees potential 119.01% upside over the next 12 months. This bullish thesis was centered on the company’s strong long-term fundamentals.
Specifically, Muse noted that Micron has secured 16 Strategic Customer Agreements (SCAs), with 14 featuring set pricing metrics. He highlighted that these SCAs are projected to cover 50% of the company’s total revenue moving forward, up significantly from 25% in the May quarter and 35% in the August quarter.
Muse added that memory supply-demand conditions will be tighter in Calendar Year 2027 than in 2026, with persistent supply bottlenecks extending through 2028. Most importantly, the firm signaled a bullish outlook for Micron stock ahead of the planned $35 billion share repurchase authorization on December 9.
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 MU at $1,585.93.
As a result, these analysts signal a possible bull run of roughly 73.67% over the next 12 months.
Is MU a good stock to buy?
Even though Micron stock has faced choppy consolidation since early June 2026, MU price is up nearly 343% over the last 12 months,
Consequently, Micron had a market capitalization of $1 trillion at the time of publication.
Amid this established bullish momentum for MU over the past 12 months, driven by robust demand in the artificial intelligence (AI) space, Wall Street analysts believe another rally to a new peak could happen over the next 12 months.
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