Micron (MU) Stock Surges as Top Analysts Boost Targets Ahead of Q3 Earnings—Time to Buy?

Wall Street's buzzing as Micron's stock gets a bullish makeover. Analysts are scrambling to raise price targets ahead of Q3 earnings—because nothing excites finance bros like chasing momentum.

Here's why the smart money's betting big:

• Memory chip demand is exploding (thanks, AI hype cycle)

• Shortages mean Micron holds all the pricing power

• Every analyst memo suddenly contains the phrase 'upside potential'

But let's be real—these target hikes smell suspiciously like institutional FOMO. Remember when these same analysts downgraded MU last quarter? Pepperidge Farm remembers.

The play? Watch for earnings surprises, ignore the analyst chorus, and—if you must gamble—remember the first rule of semiconductor investing: chips go up... until they don't.

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Analyst Consensus on Micron’s Q3 Earnings

Micron produces memory and storage solutions, including high-bandwidth memory (HBM) used in AI applications. Demand for HBM is rising as tech giants like Microsoft (MSFT), Meta (META), Amazon (AMZN), etc. expand their AI data center infrastructure.

Amid this backdrop, Wall Street analysts expect Micron to report earnings per share (EPS) of $1.59 in its fiscal Q3 2025 results, more than doubling from $0.62 a year ago. At the same time, revenue is projected to reach $8.85 billion, reflecting a solid 30% year-over-year increase. These bullish projections reflect growing confidence in the company’s memory chip recovery and long-term positioning in high-growth markets like AI and data centers.

Additionally, the results follow Micron’s pledge to invest $200 billion in the U.S., including $150 billion for memory manufacturing and $50 billion for R&D. Plans include new fabs in Idaho and New York, upgrades in Virginia, and enhanced high-bandwidth memory packaging capabilities.

Top Analysts Raise Price Targets on MU Stock

Ahead of the Q3 earnings reveal, five-star-rated analyst Aaron Rakes at Wells Fargo raised his price target from $130 to $150 on MU stock. He expects Q3 results to highlight ongoing strength in data center and AI-driven DRAM demand. While NAND remains soft, Wells notes that improving supply-demand discipline is helping offset the weakness.

LikewiseWedbush raised its price target to $150 and reiterated a Buy rating. The firm sees improving memory pricing trends, supported by stronger-than-expected enterprise and server demand since April. While Q3 may not mark a major inflection point, Wedbush expects pricing for both DRAM and NAND to improve over the coming quarters, driven by sustained demand across AI and traditional workloads.

Notably, NAND is a type of flash memory manufactured by Micron, which is used in SSDs and smartphones. Meanwhile, DRAM refers to dynamic random-access memory products used in computers, servers, and many other electronic devices.

Is Micron a Good Buy?

Turning to Wall Street, analysts have a Strong Buy Buy consensus rating on MU stock based on 12 Buys and three Holds assigned in the past three months. Micron’s average price target of $121.67 suggests a modest downside of 1.5% from current levels.