Mizuho Hikes Micron (MU) PT to $390 on Strong 2026 AI Memory Outlook

Micron Technology Inc. (NASDAQ:MU) is one of the cheap stocks to buy for the next 3 years. On January 9, Mizuho analyst Vijay Rakesh raised the firm’s price target on Micron to $390 from $290 with an Outperform rating on the shares. In its 2026 semiconductor outlook, Mizuho broadly revised price targets across the sector, forecasting continued but more moderate growth than in 2025. The firm prioritized AI accelerators, wafer fab equipment/WFE, optical components, and memory. Conversely, Mizuho remained cautious on the automotive, analog, and consumer hardware (handsets/PCs) markets.

In other news, on January 6, Micron Technology Inc. (NASDAQ:MU) announced the launch of the Micron 3610 NVMe SSD, which marked the industry’s first PCIe Gen5 G9 QLC SSD designed for client computing. Built on Micron’s advanced G9 NAND technology, this drive is engineered to bring premium performance and high capacity to mainstream PCs, ultra-thin laptops, and AI-ready devices. It is currently sampling with select OEM partners and will be available in capacities ranging from 1TB to 4TB.

Micron has integrated data center-grade security features into this client-level drive. This includes Data Object Exchange and Device Identifier Composition Engine to enhance user data protection. Positioned between Micron’s premium Gen5 4600 series and its value Gen4 offerings, the 3610 SSD is designed to democratize high-end Gen5 performance while maximizing battery life for the next generation of hybrid work and gaming laptops.

Micron Technology Inc. (NASDAQ:MU) designs, develops, manufactures, and sells memory and storage products in the US, Taiwan, Singapore, Japan, Malaysia, China, India, and internationally.

While we acknowledge the potential of MU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.