Will Micron stock keep going up is a question circling Wall Street right now, and the numbers make it hard to argue otherwise. As of May 6, MU closed at $666.59, up 102.7% year-to-date, and also just set a new 52-week high on May 4. The Micron stock forecast for 2026 right now points to one thing above all: an AI-driven memory shortage that the company’s own CEO says is nowhere near resolution. Out of 44 analysts tracked by MarketScreener at the time of writing, the mean consensus sits at a firm “Buy,” with an average target of $551.40 and thehighest Micron price target on the board at $1,000.

Micron’s fiscal Q2 FY26 results did a lot to shift how analysts think about the Micron stock forecast for 2026 and beyond. Revenue came in at $23.86 billion, up 196% year-over-year, and non-GAAP EPS hit $12.20, a 682% jump from the prior year. The company also signed pricing and volume agreements covering its entire calendar 2026 HBM supply, including next-generation HBM4, which gives it a level of revenue visibility that most chipmakers can only wish for right now.

Micron CEO Sanjay Mehrotra said in the company’s fiscal Q2 earnings release:

“Micron set new records across revenue, gross margin, EPS, and free cash flow in fiscal Q2, driven by a strong demand environment, tight industry supply, and our strong execution, and we expect significant records again in fiscal Q3. In the AI era, memory has become a strategic asset for our customers, and we are investing in our global manufacturing footprint to support their growing demand.”

DA Davidson started coverage at the Street-high $1,000 price target, and TD Cowen also raised its own target to $660. Fitch upgraded Micron’s credit rating to BBB+, and the stock joined the S&P 100 back in March 2026. The question of whether Micron stock will hit $1,000 is, at this point, something analysts take seriously in a way they simply did not six months ago.

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Micron CEO Sanjay Mehrotra has been remarkably candid about the supply situation. After Q2 earnings, he told CNBC that key customers currently receive only“50% to two-thirds of their requirements” because of the ongoing memory crunch. That admission goes a long way toward explaining why pricing stays elevated and why the Micron stock AI memory demand thesis keeps attracting fresh attention from Wall Street.

Mehrotra told CNBC’s Jim Cramer:

“AI-driven demand is accelerating. It is real. It is here, and we need more and more memory to address that demand. We see that tightness continuing into 2027, so we see durable industry fundamentals over the foreseeable future, driven by AI demand.”

Mehrotra also said in a separate CNBC interview:

Source: Watcher Guru