Micron (MU) Stock Could Rally 75% as Analyst Projects AI-Driven Memory Boom
Aletheia Capital's Warren Lau has issued the Street's most bullish Micron call, raising his price target 106% to $650. The forecast implies 75% upside from current levels, predicated on AI-driven demand for high-bandwidth memory (HBM) outstripping supply through 2027.
Lau doubled FY26 and tripled FY27 earnings estimates after determining memory chip demand is both stronger and more durable than consensus appreciates. Micron's early HBM4 shipments and projected margin expansion suggest the company is positioned to capitalize on what management describes as 'sold-out' HBM capacity through 2026.
The March 18 earnings report will test these assumptions, with Wall Street anticipating $8.52 EPS on $18.85 billion revenue. Market attention now focuses on whether Micron can maintain its technological lead in HBM production as NVIDIA and AMD's next-gen GPU timelines accelerate.
