Analyst See More Upside Despite Micron Technology’s (MU) 90% Gains in May

June 7, 2026 - 04:47

Despite Micron Technology already delivering a stunning 90% gain for investors in May 2026, Wall Street analysts are not backing off. Instead, they are raising their price targets, signaling that the rally may have more room to run. The bullish sentiment remains strong as the memory chip maker continues to benefit from surging demand in artificial intelligence and data center markets.

On June 3, Morgan Stanley became the latest major firm to boost its outlook. The bank raised its price target on Micron shares from $520 to a new high, reflecting confidence in the company's earnings momentum and product cycle. This move follows similar upgrades from other analysts who see the stock as still undervalued relative to its growth potential.

Micron's performance has been fueled by tight supply in the DRAM and NAND markets, coupled with strong pricing power. The company has also been a key beneficiary of the AI boom, with its high-bandwidth memory solutions in high demand for training large language models. While some investors might worry that the stock is getting expensive after such a sharp run, analysts argue that earnings growth will catch up to the valuation.

The Street's consensus remains bullish, with most ratings at "Buy" or "Overweight." The average price target now sits well above current trading levels, suggesting that even after a 90% jump, the market sees further upside ahead.