Micron Price Prediction: Wedbush Raises Target to $500, Topping Yesterday’s Wall Street Call

Micron Technology (NASDAQ:MU | MU Price Prediction) has been on a remarkable run, with shares up 33% year to date and over the trailing twelve months, MU has surged 344%. Most analysts hold more measured views, with the Street consensus target at $417.82. Now, Wedbush analyst Matt Bryson has raised his price target to $500, topping Wells Fargo’s $470 target issued just yesterday and making it the highest target on the Street. But can MU realistically reach $500 by end of 2026?

Wedbush’s $500 MU Prediction

Bryson, who rates MU Outperform, raised his target from $320 to $500 on the strength of post-Chinese New Year industry checks that revealed no deterioration in memory demand trends. He is now confident his prior estimates were too conservative and expects both Q2 results and Q3 guidance to come in well ahead of revised Street expectations. That view is reinforced by prediction market participants, who are currently pricing in a 97.5% probability that Micron beats quarterly earnings when it reports on March 18.

Key Drivers of MU Stock Performance

1. NAND and DRAM price inflation of 30%-50%. Wedbush sees both NAND and DRAM prices climbing in the 30%-50% range, directly expanding Micron’s margins. Micron’s Q1 FY2026 GAAP gross margin reached 56.0%, up from 38.4% a year prior, and Q2 guidance calls for non-GAAP gross margin of 68.0%. Higher memory prices flow almost entirely to the bottom line.
2. Post-CNY industry checks confirm no demand falloff. Conversations with industry participants following Chinese New Year have not signaled any fall-off in memory trends. HBM capacity for 2026 is already sold out, and order books extend into 2027, reducing cyclical risk for long-term holders.
3. Q2 and Q3 earnings upside. Micron guided Q2 FY2026 revenue to $18.70 billion with non-GAAP EPS of $8.42. Wedbush believes both the Q2 print and Q3 guidance will exceed expectations, building on four consecutive quarters of EPS beats ranging from 5.94% to 21.33%.

What Will It Take for MU to Reach $500?

At $500 per share and 1,125,509,000 shares outstanding, getting there requires three conditions: sustained DRAM and NAND pricing strength through the second half of 2026, continued hyperscaler and AI data center demand keeping HBM supply constrained, and Q2 and Q3 results that reset Street estimates meaningfully higher. CEO Sanjay Mehrotra has stated that “Micron’s technology leadership, differentiated product portfolio, and strong operational execution position us as an essential AI enabler.”

The primary risk is a cooling of AI infrastructure spending that softens memory pricing faster than the market expects. Even so, Wedbush’s $500 target reflects a business whose fundamentals are accelerating, not decelerating.

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