Bernstein Raises Micron Stock Price Target To $1300

Bernstein has revised its stock price target for Micron (MU) to $1300. Bernstein’s price target currently has 44.4% upside from current price levels. MU has been in the spotlight over the last few years, seeing massive gains amid the ongoing AI boom. Wall Street analysts have become increasingly bullish on MU due to its position in the AI memory chip manufacturing sector. Let’s discuss what’s next for Micron.

Why Is Wall Street Bullish On Micron?

Apart from Bernstein, other major Wall Street firms have also significantly raised their stock price target for Micron. Bank of America raised its target to $1550. J.P. Morgan raised their price target to $1540. Cantor Fitzgerald and Barclays have both raised their price target to $2000.

The bullish sentiment around Micron (MU) comes from the fact that AI memory chip manufacturers are limited. Micron (MU) is part of a exclusive club that is providing the necessary memory chips for the AI industry. Micron, along with SK Hynix and Samsung, form the “big three” in AI memory chips. Additionally, Micron (MU) is the only US-based company among the three. This makes Micron a rather unique company for Wall Street to bet big on.

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