10 AI Stocks Making Big Moves on Wall Street

6. Micron Technology, Inc. (NASDAQ:MU)

Number of Hedge Fund Holders: 94

Micron Technology, Inc. (NASDAQ:MU) is one of the 10 AI Stocks Making Big Moves on Wall Street. On September 17, Wolfe reiterated the stock as “Outperform” and raised its price target to $180 per share from $160.

According to the firm, the outlook in commodity memory continues to improve with multiple AI tailwinds.

“Reiterate Outperform rating, increasing PT to $180 price target. Our $180 price target is based on ~11x our FY27 EPS of $16.43. Following MU’s positive pre-announcement in August, NAND sentiment has improved driven by HDD shortages, and DRAM pricing has proven resilient, perhaps due to better server trends. While sentiment and the stock has risen into the report, we remain constructive due to the significant HBM content gains coming in CY27. We raise our FY26 Rev/EPS estimates to $49.5bn/$13.13 from prior $48.5bn/$13.03; we also introduce FY27 estimates of ~$56.3bn/$16.43, which incorporates only ~60% y/y growth in HBM, ~14% y/y growth in NAND, and ~flat y/y growth in DDR memory in FY27. We increase PT to $180 on higher estimates (~11x our FY27 EPS). Valuation: MU is trading at 9.7x our FY27 EPS, below its 11x average over the past two years. Relative performance. MU has increased +82% LTM, below SK Hynix’s +114% rise but better than Samsung’s +23% increase.”

Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide.