Wolfe Research Raises PT on Micron Technology (MU) Stock - Yahoo Finance UK

Wolfe Research raised its price target on Micron Technology (MU) to $1,250 from $550 on June 11, 2026, maintaining an 'Outperform' rating. The firm increased its DRAM pricing estimates for fiscal 2026... Read original →

Wolfe’s aggressive PT hike for Micron signals a structural DRAM supply crunch. Technically, surging AI server demand for HBM3E/HBM4 is forcing co-optimization across logic and advanced packaging—TSMC’s CoWoS capacity is now the choke point, while Micron lags Samsung and SK Hynix by at least one HBM generation. On compliance, U.S. export controls inflate Micron’s China-based assembly/test costs, and cleanroom constraints in Taiwan, China and Japan cap meaningful capacity additions until 2027. In response, Samsung may pivot standard DRAM lines to HBM faster, while SK Hynix leverages its Intel foundry alliance to lock in AI clients. Over the next 18 months, Micron will ride spot-price spikes, but without HBM yield and design-win breakthroughs, its revenue peak risks being transient—the real winners will be platform players commanding heterogeneous integration ecosystems.