Micron Technology, Inc. (Nasdaq: MU) has risen more than 30% in August 2026 amid a broader rebound in artificial‑intelligence infrastructure demand, according to a note from BMO Capital Markets analyst Harsh Kumar.
Kumar reaffirmed a “Buy” rating for Micron and maintained the firm’s 12‑month price target of $1,300. With the stock trading around $965.60 at the time of the note, the target implies roughly a 35% upside.
The analyst’s outlook cites a memory‑market supercycle driven by strong demand for high‑bandwidth memory (HBM) and growth across Micron’s product lines. BMO Capital also highlighted Micron’s launch of Micron Research Labs, a U.S.‑based initiative tied to a planned $10 billion investment over the next decade.
Analyst consensus
TipRanks data shows 30 Wall Street analysts have an average 12‑month price target of $1,568.39 for Micron, suggesting a potential 62% increase from current levels. The highest target among the group is $2,200, while the lowest is $1,100.
Recent performance
Micron’s year‑to‑date price has risen over 206%, bringing its market capitalization to approximately $1.1 trillion at the time of reporting.
Analysts note that if the stock continues its upward trajectory amid the ongoing memory supercycle, the 12‑month targets could be reached.
