Wolfe Research Stays Bullish on Micron (MU) as Rubin Ultra Boosts Memory Needs

Micron Technology, Inc. (NASDAQ:MU) is one of the AI Stocks Analysts Are Watching Closely. On August 18, Wolfe Research analyst Chris Caso reiterated an Outperform rating on the stock with a $160.00 price target. The firm believes that three factors will have an influence on Microns’ stock in the future.

These include sustained pricing strength, market share dynamics assuming Samsung qualifies on HBM4 for next year, and 2026 HBM margins, which may decline but still beat Micron’s overall average.

Looking ahead, the firm believes that demand for Rubin Ultra chips in 2027, which will require far more memory, remains a significant catalyst. Keeping in view that Samsung hasn’t qualified yet, it looks like industry capacity is insufficient which further keeps analysts’ positive on Micron stock.

“The more significant intermediate-term catalyst for DRAM is the HBM content increase for Rubin Ultra in CY27 (4x content/ chip and 2x content/GPU). Because Samsung has yet to qualify, we don’t think the industry capacity is in place to fulfill that demand yet. That’s the factor that keeps us structurally positive, with the aforementioned factors providing trading opportunities in the meantime.”

Micron Technology, Inc. (NASDAQ:MU) develops and sells memory and storage products for data centers, mobile devices, and various industries worldwide.

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