Micron's Pricing Power Spurs Analyst Target Race to $1,750 Ahead of June 24 Earnings
Published on 06/12/2026 at 13:13 | Redaktion boerse-global.de
Memory-chip maker Micron has become the latest battleground for Wall Street bulls, with analysts scrambling to outdo each other on price targets as the company’s pricing power intensifies. Susquehanna now leads the pack with a $1,750 target, while Daiwa Securities has raised its view to $1,600 and Wolfe Research to $1,250. The common thread is a conviction that supply constraints in DRAM and NAND — exacerbated by AI server demand — are locking in elevated pricing for the foreseeable future.
The stock briefly touched a trillion-dollar market capitalisation on Thursday, sending the German-listed shares to €860 before a Friday pullback brought them to around €834. That still leaves the equity up more than 210% year to date, a rally that has prompted some profit-taking but done little to dim the fundamental enthusiasm. At current levels, the shares are only a shade below the 52-week high set in early June.
A key driver of the bullish thesis is data from TrendForce showing strong upward momentum in DRAM contract prices. AI servers are soaking up production capacity, crimping supply for other end markets such as smartphones and forcing handset makers to adjust their memory configurations. Micron benefits across the entire memory value chain, and Wolfe Research analyst Chris Caso expects the pricing environment to remain robust for an extended period.
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In a separate move, Micron has strengthened its board with the appointment of Dr. Alexis Black Björlin, a veteran of Nvidia, Meta and Intel. Her experience in the AI and data-centre ecosystem aligns neatly with the company’s strategic focus on high-bandwidth memory solutions.
All eyes are now on the third-quarter earnings release scheduled for June 24. In the fiscal second quarter, Micron delivered revenue of nearly $23.9 billion, and management has guided for $33.5 billion in the current period, with a gross margin of roughly 81%. The numbers set an exceptionally high bar, and the market will want to see whether the pricing power that underpins those estimates is sustainable.
Longer term, IDC forecasts chip shortages persisting through the end of 2027, a backdrop that could support Wolfe Research’s projection of annual revenues around $226 billion and earnings per share of $135. The June 24 report will provide the first hard evidence of whether the pricing cycle still has room to run — or whether the rally has already priced in the best of it.
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