Micron Stock Could Triple to $3,000, D.A. Davidson Analyst Says

Micron stock prediction calls hit a new high this week, as D.A. Davidson analyst Gil Luria raised his Micron stock price target to $3,000 from $2,100 on Oct. 7 and kept a Buy rating on the shares. With the Micron stock price near $1,088 at the time of writing, that implies the stock could roughly triple. Luria’s MU stock 2026 view rests on a memory shortage he expects to last through 2027 and 2028, and that shortage also drives his Micron stock 2027 earnings outlook.

Micron Stock Prediction, Price Target And 2027 Outlook

The new Micron stock prediction rests on a pretty simple idea, and that idea is that more memory gives better AI results. Bigger capacity means better model performance and faster inference, so the largest tech companies want every bit of high-bandwidth memory and advanced DRAM they can get right now.

Gil Luria had this to say about Micron’s biggest buyers:

“If you don’t buy it, they will.”

Luria was pointing at Amazon, Microsoft, Alphabet’s Google, Nvidia and Apple. These companies are locking in Micron’s capacity with long-term contracts that, in his view, guarantee demand at least through 2028, and that is the backbone of his Micron stock prediction.

Record Results Back The Micron Stock Prediction 2026 Story

Micron reported fiscal fourth-quarter revenue of $54.23 billion on Sept. 30, up roughly 379% year-over-year, with adjusted earnings of $33.42 per share. The company also guided first-quarter revenue near $61.5 billion. Numbers like these are a big reason the Micron stock prediction 2026 targets on Wall Street keep climbing.

Micron CEO Sanjay Mehrotra stated:

“Micron delivered record fiscal 2026 results, and we expect an even stronger fiscal 2027.”

CFO Mark Murphy had this to say on the earnings call:

“Our inventory levels and supply remain extremely tight.”

Management has guided for volume and price gains through 2028. The Micron stock price has climbed 281% year-to-date, and yet it looks cheaper on earnings, because profit forecasts rose even faster.

How Luria Built The $3,000 Micron Stock Price Target

Right now, Micron trades at about six times estimated fiscal 2027 earnings. Luria’s $3,000 Micron stock price target puts a multiple of roughly 19 times on his fiscal 2027 EPS estimate, and that gap is the whole point of his Micron stock 2027 call. AMD and Intel have traded at far higher multiples.

A large buyback is also expected later this year once certain Chips Act restrictions lift. Of the 42 analysts covering Micron, Luria’s target is now the Street-high. The stock holds a Strong Buy consensus, with 33 Strong Buy ratings, five Moderate Buy ratings and four Hold ratings, so this Micron stock prediction is far from a lone voice.

What Could Derail The Micron Stock Prediction

No Micron stock prediction comes without risk, and memory is still a costly business to run. New fabs take years and billions of dollars to bring online,, and Micron’s Idaho fabs won’t start wafer output until mid-2027 and late 2028. Samsung and SK Hynix are expanding too, and pricing power could fade if supply catches up faster than expected. Long-term deals also can’t cover every swing in demand.

For now, Luria’s Micron stock prediction leans on locked-in demand from the richest buyers in tech and a valuation that still looks cheap. If the market pushes the multiple anywhere close to 19 times over the Micron stock 2027 earnings cycle, the Micron stock price could get a lot closer to $3,000 than most people expect right now.