As Micron Technology, Inc. (Nasdaq: MU) stock rose by over 13% in August, pushing the company’s market capitalization to $1.1 trillion at the time of writing, Mark Li, a Wall Street analyst at Bernstein, expects another rally, over the next 12 months, to reach a new all-time high (ATH).
Li assigned a ‘Buy’ rating for Micron stock, according to a note sent to clients on August 31, which Finbold analyzed on September 1, 2026. He set the firm’s 12-month price target at $1,300.
With MU price hovering at approximately $937.78 on Tuesday, representing a potential 38.62% uptick. This bullish thesis is anchored on the structural shortage of DRAM (Dynamic Random-Access Memory) and elevated high-bandwidth memory average selling prices through 2027.
Moreover, Bernstein believes that Micron has strong macro supply visibility from customer agreements. As such, this firm expects Micron’s earnings to rise sharply in 2027 and into next year, thus supporting bullish sentiment.
Wall Street analysts signal strong uptrend for Micron stock
Following Bernstein’s new rating of MU, 31 Wall Street analysts surveyed by TipRanks, over the last three months,have set an average 12-month price target of $1,556.55. Consequently, these experts suggest a possible 65.06% upside.
The highest MU stock price prediction from these surveyed analysts is $2,200 while the lowest stands at $1,100.
MU price performance
Year-to-date (YTD), Micron’s share price has climbed by $622.36, or 197.31%.
The rising demand for memory storage to facilitate the mainstream adoption of Artificial Intelligence (AI) has heavily driven the 2026 MU stock uptrend. With Wall Street analysts predicting an elevated demand for memory chips over the coming months, MU could continue with its established bullish momentum to reach a new ATH over the next 12 months.
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