‘Stay Long and Strong Memory and Micron:’ 5-Star Analyst Boosts Price Target to Street High

FomoAnxiety · 2026-03-21T14:14:20+00:00

Cantor Fitzgerald analyst C. J. Muse raised Micron Technology's price target to $700 after strong earnings, highlighting robust DRAM and NAND pricing. Muse forecasts high margins and sustained demand driven by AI, viewing Micron as a top investment choice.

FomoAnxiety

2026-03-21 14:14:20

Abstract generation in progress

Following Micron Technology’s MU -4.81% ▼ solid beat-and-raise quarter, Cantor Fitzgerald’s five-star analyst C. J. Muse raised his price target from $450 to a new Street-high of $700, implying 51.6% upside. He hailed Micron’s results as “another blowout quarter,” fueled by robust pricing across DRAM (dynamic random-access memory) and NAND (not AND).

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Micron designs and manufactures semiconductors, focusing on DRAM (for servers, PCs, AI), NAND flash (for SSDs, mobiles), and storage solutions like SSDs.

A longtime Micron bull, Muse ranks #15 out of 12,128 analysts tracked on TipRanks. He boasts a 70% success rate and an impressive average return per rating of 59.70%.

‘Another Quarter, Another Blowout!’

Muse forecasts a tight supply/demand situation through 2027, sustaining Micron’s pricing power. The chipmaker guided Q3 earnings per share (EPS) at $19.15 (midpoint), crushing consensus of $12 and buy-side estimates of $15-$17.

Muse noted that strong DRAM and NAND pricing drove 81% gross margins, with AI now powering 50% of DRAM demand amid constrained NAND supply from limited additions and KVCache. Micron also upped FY26 capex to $25 billion from $20 billion, mostly for clean rooms and efficiency upgrades to meet AI needs.

Muse highlighted Micron’s first multi-year supply contract (SCA agreement), though terms remain undisclosed. He expects sustained high margins (97% incremental) and pricing strength through 2026–27, with EPS approaching $100 by 2027.

“Stay long and strong Memory and Micron,” Muse urges, naming $MU his Top Pick. Muse also remains positive for other memory players, including ASML ASML -3.60% ▼ on rising EUV (Extreme Ultraviolet lithography) adoption but bearish for personal computers and smartphone chip makers due to supply cuts.

Should You Buy MU Stock Now?

Analysts remain highly optimistic about Micron’s outlook. On TipRanks, MU has a Strong Buy consensus rating based on 24 Buys and two Hold ratings. The average Micron price target of $536.67 implies 16.2% upside potential from current levels. Year-to-date, MU shares have surged 61.8%.

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