Citi Sees Micron (MU) Climbing to $130 Supported by Better DRAM Pricing

Micron Technology Inc. (NASDAQ:MU) is one of the 10 best tech stocks to buy according to billionaires right now. On June 9, Citi analyst Christopher Danely reaffirmed his Buy rating on Micron and raised the stock’s price target to $130 from the previous $110.

Danely’s outlook is driven by expectations of stronger DRAM pricing, which he believes will surpass initial projections. He now anticipates a quarterly price increase of at least 5%, well above the earlier forecast of 2%. This upward trend in pricing is expected to support Micron’s revenue and earnings growth over the coming quarters.

An automated manufacturing production line of semiconductor components on an assembly line.

In response to these improving market conditions, Danely has revised his financial estimates for the company and now projects stronger sales and higher EPS for fiscal years 2025 and 2026. These higher estimates have resulted in an increase in price target.

Although tariff-related developments have subsided, geopolitical tensions remain high. On June 9, Reuters reported that Chinese memory chipmaker Yangtze Memory Technologies (YMTC) filed a lawsuit in Washington, accusing Micron Technology Inc. (NASDAQ:MU) of orchestrating a disinformation campaign. The lawsuit claims Micron falsely portrayed YMTC’s chips as containing spyware and posing a national security threat.

Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and markets memory and storage products, including dynamic random-access memory (DRAM), flash memory (NAND), solid-state drives (SSDs), and High Bandwidth Memory (HBM) globally.

While we acknowledge the potential of MU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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