Micron Stock: Wall Street’s Consensus Buy Amid AI-Driven Supply Constraints

Micron Technology (MU) trades 7% below its 52-week high at $760, yet analysts overwhelmingly endorse buying. UBS, Melius Research, Deutsche Bank, and HSBC unanimously maintain buy ratings, with price targets ranging from $535 to a Street-high $1,100. Of 45 tracked analyst ratings, 30 are Buy, 9 Outperform, and only four Hold.

The bullish thesis centers on supply constraints rather than demand. High Bandwidth Memory (HBM) capacity for 2026 is effectively allocated, with AI infrastructure driving scarcity. HSBC and Melius raised targets to $1,100 on May 18, coinciding with a 6% dip in MU shares. Deutsche Bank lifted its target to $1,000, while Citi affirmed an $840 target.

Wall Street’s conviction reflects structural advantages in memory markets. Micron’s positioning in AI-adjacent semiconductors overshadows cyclical concerns, making the stock a rare consensus play among institutional analysts.