Goldman Doubles Micron's Target to $900 — and the Stock Already Cleared It

Goldman's $900 Target Landed Below the Tape

On June 10, Goldman Sachs analyst James Schneider more than doubled his Micron price target to $900 from $400 while keeping a Neutral rating. The note is bullish on the numbers — Goldman raised its FY2026 and FY2027 revenue and EPS estimates by roughly 28% and 36% on average, citing memory pricing it expects to stay tight through 2027 and an impressive fiscal Q3 print due June 24. The catch: MU is already changing hands around $916, *above* Goldman's brand-new target. This is a model catching up to a stock that's run roughly 70% year to date, not a call that leads it. Tellingly, the cash stock slipped about 2% after hours on the note — doubling a target while staying Neutral is its own message.

Neutral at $900, Buy at $1,625

The more interesting signal is the spread between desks. UBS analyst Timothy Arcuri sits at the Street high after lifting his target to $1,625 from $535 with a Buy, arguing AI has structurally broken the old memory cycle and projecting EPS above $100 through at least 2029. MU jumped about 12% to $843 when that call landed. So the same name now carries a $900 Neutral from Goldman and a $1,625 Buy from UBS — a gap that isn't really about price, it's about whether memory durability is a permanent re-rating or just another up-cycle that mean-reverts. That disagreement is what's getting traded into the print.

Into the June 24 Print

Everything compresses into fiscal Q3 earnings on June 24. Until then MU is trading the analyst tape and the HBM demand narrative more than its own fundamentals, which is why a 23-hour window can print +4% to $916 even as the cash stock fades after hours. The board is leaning into the same AI-infrastructure story: on June 9 Micron appointed Dr. Alexis Black Björlin — former GM of NVIDIA's DGX Cloud and now Chief Strategy Officer at General Catalyst — as an independent director. The June 24 report is the binary that decides which target the market actually believes.