Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
Micron Technology shares reached an all-time high Tuesday after TD Cowen raised its price target to $1,500 from $660, citing explosive AI-driven demand for memory chips and sold-out HBM capacity. The stock has surged 758% this year, but faces near-term pressure from stretched valuations and heavy options activity before its June 24 earnings report. Analysts expect continued pricing strength through 2027, though lofty expectations could be tested by actual results.
What changed
TD Cowen’s price target increase to $1,500—more than doubling its prior estimate—has triggered the latest rally, with new earnings forecasts of $23/share in Q3 and $27/share in Q4.
Live updates
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Micron Stock Surges to Record High as TD Cowen Triples Price Target Ahead of Earnings
confidence 95%Micron Technology shares reached an all-time high Tuesday after TD Cowen raised its price target to $1,500 from $660, citing explosive AI-driven demand for memory chips and sold-out HBM capacity. The stock has surged 758% this year, but faces near-term pressure from stretched valuations and heavy options activity before its June 24 earnings report. Analysts expect continued pricing strength through 2027, though lofty expectations could be tested by actual results.
What's confirmed:
- Micron Technology shares hit a record high Tuesday after TD Cowen raised its price target to $1,500, citing surging AI-driven demand for memory chips.
- TD Cowen forecasts Micron’s Q3 earnings at $23 per share and Q4 earnings at $27 per share, supporting its new $1,500 price target.
- Micron’s HBM capacity is sold out through 2026, reinforcing tight supply conditions in the AI memory market.
- Micron’s stock has risen 758% year-to-date, reflecting aggressive investor speculation ahead of its June 24 earnings report.
- Analysts highlight expectations of stronger memory chip pricing through 2027, driven by sustained AI demand.
Still unconfirmed:
- A community post suggests Micron’s price target increase aligns with a CY27 EPS forecast, though no specific earnings figure is confirmed beyond TD Cowen’s Q3/Q4 estimates.
- Some traders cite stretched valuations and heavy options activity as near-term risks before earnings, though no volume or open-interest data is provided.
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Micron Stock Jumps 10.8% After TD Cowen Doubles Price Target to $1,500 Ahead of Earnings
confidence 95%Micron Technology shares hit a record high Tuesday after TD Cowen more than doubled its price target to $1,500, citing surging AI-driven demand for memory chips. Analysts highlight tight supply, sold-out HBM capacity, and expectations of stronger pricing through 2027. The stock faces near-term risks from stretched valuations and heavy options activity before its June 24 earnings report.
What's confirmed:
- Micron Technology shares surged 10.8% to an all-time high Tuesday on bullish analyst upgrades and AI memory demand.
- TD Cowen raised Micron’s price target to $1,500 from $660, citing sold-out HBM capacity and strong AI-driven memory demand.
- Analysts expect Micron’s Q3 earnings—due June 24—to reflect tight supply, pricing strength, and extraordinary results from memory-chip shortages.
- Investors are positioning for AI-driven growth in memory storage, with projections that storage demand could exceed 70% of Micron’s business.
- RBC Capital Markets also raised its price target, contributing to the stock’s rally ahead of earnings.
Still unconfirmed:
- A Wall Street bank claims storage demand will account for over 70% of Micron’s revenue, though no specific source or timeline is provided.
- Options activity remains heavy, raising near-term volatility risk before earnings.