Micron Gains Momentum, Again—30% to 80% Upside in 2026

Core Viewpoint - Micron Technology, Inc. (NASDAQ: MU) is experiencing a significant stock rally, with projections indicating potential price targets between $385 and $535 by mid-2026, suggesting a 30% to 80% upside from current levels [2][3]. Group 1: Stock Performance and Projections - Micron's stock has gained momentum as 2025 approaches its end, with a breakout to new highs indicating a continuation of the upward trend [2]. - The base case projection suggests an additional upside of approximately $135 from the breakout area, while the bull case indicates a potential 115% gain for investors [3]. - Analyst targets suggest the stock could exceed $350 before mid-2026, with long-term forecasts potentially leading to bullish revisions in upcoming quarters [3][6]. Group 2: Market Sentiment and Analyst Activity - The rally in Micron's stock was initially driven by strong earnings results for the first quarter of fiscal 2026, but ongoing analyst sentiment is playing a crucial role in sustaining the momentum [5]. - December saw numerous price target increases and at least one upgrade from analysts, aligning with the positive trend in the stock [5]. - The consensus Buy rating from 37 analysts reflects firming sentiment, with a 30% increase in the consensus price target following the FQ1 release [6]. Group 3: Technical Indicators - While there are signs that the rally could be cooling off, such as an overbought stochastic, the Moving Average Convergence Divergence (MACD) indicates that bullish control remains strong [4]. - Analysts and institutional trends support the accumulating market, providing incentives for retail investors to engage [4].