Micron Price Target Doubles to $900 with 9% Q3 Revenue Upside
MU•Goldman Sachs raised Micron’s price target to $900, lifted its 2026/2027 revenue and EPS estimates by 28% and 36%, and forecasts Q3 revenue of $37.6B and EPS of $22.07. Morgan Stanley reports AI-driven DRAM and HBM shortages have driven memory prices sixfold, creating multi-year tightness through 2027.
1. Price Target and Forecast Revisions
Goldman Sachs raised Micron’s price target to $900 from $400 and boosted its revenue and EPS estimates by 28% and 36% for fiscal 2026 and 2027. The bank projects Q3 revenue of $37.6 billion and EPS of $22.07, about 9% above consensus, citing persistent market tightness and strength in high-bandwidth memory.
2. Supply Tightness and Memory Pricing
A Morgan Stanley analysis warns that AI workloads are driving DRAM and HBM demand, pushing memory prices up sixfold over the past year. It forecasts a multi-year supply bottleneck through 2027 as hyperscalers secure capacity via long-term agreements, potentially limiting availability for consumer electronics and industrial markets.
