Micron Is About to Triple to $3,000, Says Analyst: ‘If You Don’t Buy It, They Will’

The AI infrastructure buildout continues to reshape semiconductor valuations in 2026. Memory chips, once viewed as pure cyclical commodities, now sit at the center of model performance, inference speed, and context windows. That shift has lifted several chip names this year, yet one stands out for both its gains and its still-modest multiple.

D.A. Davidson analyst Gil Luria raised his price target on Micron Technology (MU) to $3,000 from $2,100 on Oct. 7 while maintaining a “Buy” rating. The new target implies the stock could roughly triple from recent levels near $1,016. Luria argues the broader market still underappreciates a multi-year structural shortage in which memory demand is expected to outpace supply through 2027 and 2028.⁠