As Micron Technology, Inc. (Nasdaq: MU) stock gained on Friday’s pre-market, trading at approximately $1,107.25 at the time of writing, driven by its fiscal fourth-quarter and full-year 2026 earnings results that shattered expectations, Wall Street analysts are strongly convinced of a rally towards a new all-time high (ATH) in the next 12 months.
Among the analysts who issued ratings on Micron stock on Thursday is Egor Tolmachev of Freedom Broker. Tolmachev maintained a ‘Buy’ rating for MU on October 1, according to a note Finbold analyzed on October 2.
Freedom Broker set a 12-month price target for Micron stock at $1,600. As such, this firm signals a possible 44.50% upside by October 2, 2027.
This thesis is centered on recent Fiscal Quarter 4 (Q4) 2026 financial results, which exceeded consensus expectations and company estimates. Additionally, Tolmachev based this bullish sentiment on the company’s performance, clearing the high end of management guidance across revenue, gross margin, and earnings per share (EPS).
Notably, Micron reported fiscal Q4 revenue of $54.23 billion and issued Fiscal First Quarter 2027 revenue guidance of $61.5 billion, plus or minus $1.5 billion. Moreover, this company is banking on surging demand for artificial intelligence (AI)-related memory and server hardware.
MU stock price prediction
On October 1, Micron stock price received ‘Buy’ ratings from over a dozen Wall Street analysts, including Gil Luria at D.A. Davidson, Mark Li at Bernstein, Melissa Weathers at Deutsche Bank AG(ETR: DBK), and Vivek Arya at Bank of America Corp. (NYSE: BAC).
As such, 26 Wall Street analysts surveyed by TipRanks over the past three months have set an average 12-month price target of $1,581.40, suggesting a possible 42.82% upside.
Is Micron stock a good buy?
Over the past 12 months, Micron stock has soared by more than 497%, thereby pushing its market capitalization to $1.2 trillion at the time of reporting.
Consequently, even though Micron has strong fundamentals boosted by the AI boom, Wall Street analysts do not expect another parabolic rally over the next 12 months, but rather an uptrend of less than 50%.
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