Barclays Remains Bullish on Micron Technology (MU) Amid Continued AI Momentum

Micron Technology, Inc. (NASDAQ:MU) is included in our list of the 10 Goldman Sachs undervalued stocks to invest in.

On January 15, 2026, Barclays analyst Tom O’Malley increased the firm’s price target on Micron Technology, Inc. (NASDAQ:MU) from $275.00 to $450.00, while reiterating an ‘Overweight’ rating. The update came as part of the firm’s 2026 outlook for semiconductors and chip-equipment stocks. The firm expects AI to continue driving the sector’s growth in 2026, favoring stocks that play a central role in supporting AI growth. In 2026, the investment firm sees quality as a key metric that will differentiate winners. In this backdrop, the firm expects Micron to be a key beneficiary, given its significant role in memory and storage for AI-driven workloads.

Meanwhile, Micron Technology, Inc. (NASDAQ:MU) reinforced the AI-centric thesis on January 6, 2026, by introducing the 3610 NVMe SSD, the industry’s first PCIe Gen5 G9 QLC client SSD. Delivering up to 11,000 MB/s read and 9,300 MB/s write speeds, the product offers a unique 4TB single-sided M.2 2230 design for ultra-thin, AI-capable PCs. Boasting significantly better performance-per-watt compared to prior generations, the product reflects the company’s strategy of deploying data-center-grade innovation into mainstream client devices as AI PCs scale.

Micron Technology, Inc. (NASDAQ:MU) delivers memory and storage solutions across compute, mobile, embedded, and storage markets. The company supplies DRAM and NAND technologies, serving AI infrastructure, data centers, PCs, smartphones, automotive systems, and enterprise applications segments globally.

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.

READ NEXT: 7 Best Rising Tech Stocks to Buy Now and 12 Best Multibagger Stocks to Buy Heading into 2026.

Disclosure: None.