Micron Stock Has 47% Upside per Wall Street Analyst. Here's How

Micron Technology has not cooled after a scorching rally, with shares up roughly 223% year-to-date and 590% over two years. A fresh note from TD Cowen projects a 47% upside, setting a price target near 1,500 per share. Analysts tie this optimism to sustained DRAM demand from AI data centers and the potential for longer-term agreements that could underpin growth beyond the near term. The stock trades around 11 times forward earnings, a metric the report frames as reasonable given the AI-driven memory market, with Micron’s next earnings print looming in about a week. TD Cowen’s upgrade underscores a broader debate about whether the AI surge represents a structural shift or a cyclical spike.