Micron price target raised as Baird sees agentic AI driving further gains
Micron Technology enters its fiscal fourth-quarter earnings week with strong momentum in memory stocks and expectations for another sharp profit increase. Baird says growing demand tied to agentic artificial intelligence supports further upside for the chipmaker, as supply growth moderates and higher-margin products gain weight.
Highlights
- Baird raised its Micron price target to $1,520 from $1,280, citing agentic AI demand and reiterating its outperform rating.
- Analyst Tristan Gerra cites expected 2025 high bandwidth memory margin gains, slowed DRAM bit growth in 2027, and a 939% year-over-year earnings growth consensus for Q4.
- Micron shares surged 279% in 2026, reached a $1,255 intraday high on June 25, and 46 of 49 analysts rate the stock a buy or strong buy.
Broker upgrade ahead of earnings
According to CNBC, Baird says demand for agentic artificial intelligence is likely to push Micron shares to new highs, and the firm reiterates its outperform rating on the memory chipmaker. The broker raises its price target to $1,520 from $1,280, implying 40% upside from Friday’s close.In a Monday note, analyst Tristan Gerra writes that Baird is becoming more positive on Micron over the near and medium term. He points to a recent surge in agentic AI demand that is lifting CPU demand and is expected to continue next year, a slowdown in industrywide dynamic random access memory supply bit growth in 2027 versus this year, and a higher expected margin profile for high bandwidth memory next year.
Micron is due to report fiscal fourth-quarter results on Wednesday. Analysts expect a strong release, with an LSEG consensus forecast for year-over-year earnings growth of 939%.
Memory sector rally supports outlook
Micron shares have surged this year alongside other memory stocks, helped in large part by a memory chip shortage. The stock is up 279% in 2026 and reached an intraday record high of $1,255 on June 25.Wall Street sentiment on the company remains broadly positive. LSEG data shows 46 of 49 analysts rate the stock a buy or strong buy, while the average price target still indicates 34% upside.
Global AI stocks cooled after an early-year run, and in our earlier article we noted that the pullback had cleaned up positioning and made semiconductor valuations more attractive. We also highlighted that strong fundamentals, pricing support through 2027, and tight supply-demand dynamics into 2028 could keep interest in chipmakers resilient even as software lagged within the broader AI trade.
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