Micron Seen Reaching $1,500 by 2028 as AI Memory Boom Lifts Revenue 346%
Updated
Updated · 24/7 Wall St. · Aug 6
Micron Seen Reaching $1,500 by 2028 as AI Memory Boom Lifts Revenue 346%
3 articles · Updated · 24/7 Wall St. · Aug 6
Summary
$1,500 by 2028 is the bullish call for Micron, implying an 80.8% gain from $829.50 and a 23x forward P/E versus about 13x today.
Q3 revenue jumped 345.72% year over year to $41.46 billion, and Micron guided Q4 to $31 in non-GAAP EPS on $50 billion in revenue, reinforcing the AI-driven memory thesis.
Wall Street is broadly positive — 9 strong buys, 31 buys, 4 holds and 1 strong sell — with a mean target of $1,522.26, though the report's own base case is a much lower $905.44.
The gap reflects near-term risks: shares are down 7.85% in a week and 14.96% in a month, insiders have been net sellers, and any 2027 memory oversupply could crush the multiple.
Key catalysts for the upside case are HBM4E volume production in 2027, tighter DRAM supply, strategic customer agreements and data-center demand exceeding 50% of industry TAM.