The Micron stock price target from UBS sits at $1,625 a share, and UBS also reiterated that number on August 10, 2026, right after analyst Timothy Arcuri kept his Buy rating on Micron Technology unchanged. This Micron UBS price target builds on a structural reset in the company’s earnings power, and it also leans on EPS staying above $160 all the way through calendar 2029, plus more than $450 billion in cumulative free cash flow by 2028. At the time of writing, this Micron stock UBS call is the highest price target anywhere on Wall Street for the chipmaker, and that alone is a big reason the price target keeps popping up in trading desk chatter today. Search interest around the Micron stock price target has also picked up fast this week.
Also Read: Micron Stock Target Drops to $1,150, But Citigroup Still Says Buy For Now
Micron Stock Price Target, UBS Outlook And AI Growth Forecast
Why UBS Is Staying Bullish On Micron Stock
Micron stock bullish sentiment at UBS also comes from an AI hardware wave rather than the old boom and bust memory cycle, and UBS put together the note behind this price target bump after industry checks wrapped up in early August. UBS now expects industry NAND revenue near $300 billion in calendar 2026 and about $495 billion in 2027, and that forecast is what pushed Arcuri to trim a few near term numbers even while getting more confident on the bigger, multi year story, an outlook UBS keeps circling back to whenever it explains the Micron stock price target shift.
Timothy Arcuri, UBS analyst, said:
“We are making slight adjustments to our model following our latest round of industry checks, the net of which is that we slightly trim estimates in the near-term due to a wider range of potential pricing outcomes for NAND through year-end and into C1H27…we now forecast industry revenue of ~$300B in C2026 and ~$495B in C2027. Net, for MU we adjust C2026/C2027/C2028 EPS to $74.13/$184.89/$265.65, all still well above consensus – with the bigger point here being that our estimates reflect MU EPS remaining >$160 in C2029 and the company generating >$450B cumulative FCF through C2028. To us, this increasingly looks like a structural reset in earnings power – where this kind of durability/visibility should command a shift toward a broader semiconductor multiple. We maintain our $1,625 PT based on ~11x NTM P/E on our C2029 EPS of ~$165 (1-yr discounted), and reiterate Buy.”
MU Stock Price Target And Valuation Details
The MU stock price target of $1,625 rests on close to 11 times next twelve month price to earnings, and it applies to Micron’s projected calendar 2029 EPS of around $165 after a one year discount. Updated EPS numbers for calendar 2026, 2027 and 2028 now sit at $74.13, $184.89 and $265.65 a share, all above what Wall Street had penciled in, and also well ahead of where estimates sat just months ago. Micron shares were changing hands near $876.16 at the time of writing, an 85.47% climb short of the new target, and this Micron stock UBS gap is one of the widest anywhere on the Street right now, which is exactly why traders keep citing the price target in earnings previews.
What Comes Next For Micron Stock
Risk still sits inside the Micron stock price target story, and this UBS view also flagged a wider range of possible NAND pricing outcomes running into the first half of calendar 2027. Micron has basically sold out its HBM and enterprise DRAM capacity clear through the end of 2027, and gross margins reached 84.9% last quarter as AI server demand kept climbing. Whether this Micron stock bullish case holds up, or the MU stock price target ceiling ends up too high, comes down to hyperscaler AI spending and clean execution on the trickier high layer HBM output.
For now, the Micron UBS price target stands as the highest number on Wall Street, and the debate over durability versus the old cyclical pattern rages on. That leaves the Micron UBS price target, and this Micron stock bullish thesis, as one of the more closely watched calls in chips right now, an easy one to keep an eye on this week.
