--- title: "Micron Analyst Sees Stock Nearly Tripling to $3,000, Warns Short Sellers: 'You Have an Expiry'" type: "News" locale: "en" url: "https://longbridge.com/en/news/301311118.md" description: "D.A. Davidson analyst Gil Luria raised Micron's price target to $3,000, citing AI-driven demand and impending share buybacks after CHIPS Act restrictions expire on Dec 9. He warns short sellers that the stock is undervalued relative to peers like AMD and Intel, noting Micron's critical role in AI infrastructure and long-term customer contracts." datetime: "2026-10-08T17:45:21.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/301311118.md) - [en](https://longbridge.com/en/news/301311118.md) - [zh-HK](https://longbridge.com/zh-HK/news/301311118.md) generator: "portal-rs" --- # Micron Analyst Sees Stock Nearly Tripling to $3,000, Warns Short Sellers: 'You Have an Expiry' **Micron Technology Inc.** (NASDAQ:MU) has surged more than 260% this year, but one analyst says Wall Street still doesn’t understand the company. **Gil Luria** of **D.A. Davidson** raised his price target from $2,100 to a Wall Street-high $3,000 on Wednesday, implying another 176% upside. “You have an expiry on how long you can be short this stock,” Luria told CNBC Thursday. ### Why December 9 Matters Luria pointed to Dec. 9, when restrictions linked to Micron’s CHIPS Act funding agreements expire, allowing the company to increase share buybacks. Micron ended fiscal 2026 with $68.3 billion in net cash. CFO **Mark Murphy** told investors during Micron’s September earnings call that the company intends to return 100% of excess cash to shareholders over time, primarily through repurchases. Management plans to seek additional buyback authorization beyond the $2.2 billion currently remaining. “Those are the worst things you can hear as a short seller,” Luria said. ### Why Wall Street Hasn’t Caught Up Luria believes investors still view Micron as the cyclical memory manufacturer of 2023, rather than a company whose products have become essential to artificial intelligence. He said Micron trades at roughly six times earnings, compared with 40 times or more for **Advanced Micro Devices Inc.** (NASDAQ:AMD) and **Intel Corp.** (NASDAQ:INTC). “That’s one of the biggest dislocations we’ve ever seen,” he said. Luria also noted that Micron represents just 3% of the Nasdaq-100’s market capitalization but could generate 10% of its earnings over the next year, putting fund managers who are underweight the stock at risk of missing their benchmark. His $3,000 target values Micron at approximately 19 times estimated fiscal 2027 earnings, reflecting his belief that investors will eventually pay much more for its profits. “The stock has gone up only on earnings growth. The multiple expansion hasn’t happened yet,” Luria said. He argues that memory has become critical to AI performance, while long-term customer agreements could make Micron’s earnings more predictable. Micron has signed 26 multiyear agreements covering more than 35% of its estimated revenue through 2030. Luria’s case depends on the AI spending cycle holding up. On Polymarket, traders put roughly 6% odds on an AI-industry downturn by December 31, a window covering the buyback date. The contract requires three of six triggers within 90 days, including conditions such as Nvidia shares closing 50% below their all-time high. Micron shares fell roughly 2% Thursday despite Samsung’s record profit forecast, after gaining 4.1% Wednesday. *Image: Shutterstock* **Read Also: TSMC Plans Up to $64 Billion in Capex and Still Isn’t ‘Building Enough,’ Says Applied Materials Veteran** ### Related Stocks - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [MUD.US](https://longbridge.com/en/quote/MUD.US.md) - [MULL.US](https://longbridge.com/en/quote/MULL.US.md) - [MUU.US](https://longbridge.com/en/quote/MUU.US.md) - [MUZ.US](https://longbridge.com/en/quote/MUZ.US.md) - [SMSN.UK](https://longbridge.com/en/quote/SMSN.UK.md) - [AMAT.US](https://longbridge.com/en/quote/AMAT.US.md) - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [TSM.US](https://longbridge.com/en/quote/TSM.US.md) ## Related News & Research - [Bank of New Hampshire Reduces Stock Holdings in Micron Technology, Inc. $MU](https://longbridge.com/en/news/301083752.md) - [Micron Technology, Inc. $MU Stock Holdings Boosted by Valeo Financial Advisors LLC](https://longbridge.com/en/news/301308618.md) - [Why Micron’s 87% gross margin is a blessing and a curse](https://longbridge.com/en/news/300718008.md) - [Here’s why DA Davidson raised Micron’s price target to $3000](https://longbridge.com/en/news/301300206.md) - [Micron 'is a Beast': Ross Gerber Declares the Memory Chip Cycle Dead After Monster Earnings, Says 'I've Never Seen Anything Like This'](https://longbridge.com/en/news/300683042.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**