Micron Stock 2026 Outlook: How Long Can the Memory Shortage Last? Top Analysts Weigh In

Micron Technology (MU) continues to benefit from strong AI-driven memory demand, but Wall Street is divided on how long the current supply tightness can last. While some analysts expect earnings to rise well above consensus over the next two years, others are watching closely to see whether pricing strength can hold.Claim 50% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential The company is set to report its Q2 FY26 results on March 18, with Wall Street expecting earnings of $8.52 per share on revenue of $18.85 billion. UBS Sees Shortages Lasting Into 2027 — and Beyond Top UBS analyst Timothy Arcuri raised his price target on Micron to $475 from $450 and kept a Buy rating on the stock. According to Arcuri, industry checks show pricing for both DRAM and NAND memory continues to strengthen. He believes shortages, especially in DRAM, could last through 2027 and possibly into 2028. One key issue is capacity. Memory makers are struggling to add new supply quickly due to limited factory space, long equipment lead times, and shortages of skilled workers. As a result, much of the new capacity is being directed toward high-bandwidth memory (HBM), which supports AI chips. That leaves DDR5 and NAND markets tight. Arcuri now expects Micron to earn about $60 per share in calendar 2026, well above the Street's estimate of around $40. For 2027, he sees earnings approaching $85 per share, compared with consensus near $48. He believes Micron is using the current tight market to secure longer-term supply deals that could support steady revenue growth. Goldman Sachs: Pricing Strength Continues, but Risks Remain Meanwhile, Goldman Sachs analyst James Schneider reiterated a Neutral rating with a $360 price target. Schneider said pricing in DRAM and NAND remains strong and could beat near-term estimates. However, he believes investors will focus on how long the supply gap lasts and whether price gains can continue at the same pace. He also said investors should watch Micron's progress in high-bandwidth memory and its work with key customers on next-generation HBM4. In addition, markets will track how much new supply Micron and its peers bring online through 2027. Is Micron a Good Stock to Buy? Micron stock has a consensus Strong Buy rating among 28 Wall Street analysts. That rating is based on 26 Buy and two Hold recommendations assigned in the last three months. The average MU price target of $413.00 implies 0.08% upside from current levels.