Although Micron Technology, Inc. (Nasdaq: MU) stock dropped by more than 16% over the past 30 days, Atif Malik, a Wall Street analyst at Citigroup Inc. (NYSE: C), expects the company’s shares to rally and hit a new all-time high (ATH) in the next 12 months.
Malik maintained a ‘Buy’ rating for Micron stock, according to a note to clients on August 3, 2026. He also reiterated a 12-month price target of $1,400, thereby signaling a potential 70.52% upside.
The analyst expects a strong recovery in memory demand, hence bolstering a bullish outlook for MU shares for the next 12 months. Furthermore, he believes that strong demand for memory products amid the AI boom should translate into robust earnings growth compared to the current consensus expectations.
Malik highlighted that Micron is well-positioned to attract investments through AI-related data centers and adoption in high-bandwidth memory products. As such, he concluded that the long-term outlook for MU stock price has an attractive risk-to-reward ratio.
Micron stock price forecast 2026
Similar to Malik, Vivek Arya, an analyst at Bank of America Corp. (NYSE: BAC), reaffirmed a Buy rating of Micron stock on Monday. As a result, 30 Wall Street analysts surveyed by TipRanks have set an average 12-month price target of $1,570, which represents a possible 91.05% upside.
Notably, 29 of the 30 experts have issued a Buy rating for MU, thereby signaling strong bullish conviction in 2026 and through the first half of 2027.
MU share price outlook
Over the past 30 days, MU shares dropped by 16.71%, trading at $820.17 at the time of publication. The company had a market capitalization of approximately $929.5 billion, following a 5.9% uptick during the last 24 hours.
Consequently, Wall Street analysts, led by Malik, are signaling a major bull rally for MU stock over the next 12 months, despite the recent correction.
