Bank of America (BofA) is the latest firm to increase the price target for Micron Technology Inc. (NASDAQ: MU), raising its estimate significantly by 58% to $1,500 from the previous target of $950. The investment bank maintained its Buy rating on the semiconductor giant, providing a vote of confidence ahead of Micron’s third-quarter earnings report scheduled for release tonight.
This notable revision accompanies an upgrade to BofA’s global semiconductor total addressable market (TAM) forecast, now projected to reach $2.7 trillion by 2030—a substantial uplift from the prior estimate of $2.3 trillion. According to BofA’s analysis, the majority of this growth will be propelled by the memory and data center markets. Additionally, the ongoing recovery in the automotive and industrial sectors is expected to contribute meaningfully to the industry’s expansion.
Micron’s target prices from the analyst community are now clustering between $1,200 and $1,500, reflecting growing bullish sentiment. As of June, a total of six firms have placed their price targets at the $1,500 mark or above, while all prior firm ratings have either been maintained or upgraded in recent weeks. Notably, even the most conservative view—represented by a Neutral rating—now carries a $900 price target, marking a substantial 125% increase from its previous assessment.
Despite these optimistic projections, Micron’s share price experienced a sharp decline on Tuesday. The stock closed 13.18% lower at $1,051.77, though it rebounded modestly by 1.26% in after-hours trading. The volatility comes after an impressive rally—Micron shares have soared 233% so far in 2026, capturing investors’ attention as the industry cycle recovers.
Recent Micron Price Target Changes:
- June 23, BofA: Buy, $1,500 PT (from $950, +57.9%)
- June 22, Stifel: Buy, $1,500 PT (from $550, +172.7%)
- June 18, Rosenblatt: Buy, $1,200 PT
- June 17, Deutsche Bank: Buy, $1,500 PT (from $1,000, +50.0%)
- June 17, Citi: Buy, $1,200 PT (from $840, +42.9%)
- June 15, TD Cowen: Buy, $1,500 PT (from $660, +127.3%)
- June 15, RBC Capital: Outperform, $1,200 PT (from $525, +128.6%)
- June 11, Wolfe Research: Outperform, $1,250 PT (from $550, +127.3%)
- June 10, Goldman Sachs: Neutral, $900 PT (from $400, +125.0%)
- June 8, Cantor Fitzgerald: Overweight, $1,500 PT (from $700, +114.3%)
- June 8, Wells Fargo: Overweight, $1,220 PT (from $550, +121.8%)
- May 26, UBS: Buy, $1,625 PT (from $535)
The robust series of analyst upgrades underscore the confidence in Micron’s role within the uptrending semiconductor sector, particularly as demand for memory and data center solutions accelerates. With U.S. President Donald Trump’s administration supporting advanced manufacturing and technology, industry observers will closely monitor Micron’s upcoming earnings for further guidance on the chipmaker’s trajectory.
