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Wolfe Research Reaffirms Outperform Rating on Micron (MU), Keeps $160 PT

Micron Technology, Inc. (NASDAQ:MU) is one of the must-buy US stocks to invest in. On August 18, Wolfe Research reaffirmed its “Outperform” rating on Micron Technology, with a price target of $160.

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Wolfe Research outlined three main reasons for their positive outlook. First, they noted that Micron’s recent positive preannouncement indicates continued strength in pricing, despite concerns about potential demand pull-forward. Second, if Samsung qualifies for High Bandwidth Memory 4 (HBM4) in 2026, Wolfe Research believes SK Hynix, not Micron, would likely lose market share. Third, while Samsung’s entry into advanced HBM could pressure pricing, Wolfe expects Micron’s HBM4 gross margins to remain above the company’s corporate average.

Wolfe Research highlighted a significant opportunity for Micron in 2027 due to the Rubin Ultra’s increased HBM content, which offers “4x content per chip and 2x content per GPU.” They noted that industry capacity is not yet sufficient to meet this demand.

Micron Technology, Inc. (NASDAQ:MU) designs and manufactures memory and storage products, including DRAM and NAND flash memory. It operates advanced fabrication facilities across the United States, with major investments in Idaho, New York, and Virginia to expand domestic chip production. The company supports critical US sectors, including AI, automotive, and defense, through high-performance memory solutions.

While we acknowledge the potential of MU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MU and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Must-Buy Small-Cap Stocks to Invest In and 11 Best Alternative Energy Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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