Micron Technology still has significant upside as it capitalizes on a memory shortage driven by the artificial intelligence boom, according to Deutsche Bank, which maintains a buy rating on the stock. The bank increased its price target to $1,500 from $1,000, indicating a potential 47% upside from the previous close. Analyst Melissa Weathers noted a strong upward bias in her estimate, citing improving management outlook, sustained strength in memory pricing, and Micron’s track record of beating revenue expectations. The stock has risen 258% year‑to‑date, propelled by a tight memory supply and growing AI adoption, a trend the bank expects to continue over the next several years. It anticipates continued momentum into the upcoming earnings report, with the industry supply‑demand imbalance likely to persist through the second half of 2026, 2027, and beyond. Deutsche Bank forecasts third‑quarter revenue of $35.1 billion, surpassing the $33.5 billion consensus. Micron will report its Q3 results on June 24. The outlook aligns with broader consensus, as 44 of the 47 analysts covering the stock have buy or strong‑buy ratings. Other firms have also raised their targets, with TD Cowen lifting its price goal to $1,500 and UBS raising its target to $1,625 from $535.
