MU Stock Edges Higher Ahead Of Nvidia Results: Wall Street Flags Tailwinds From AI Server Demand

• On Monday, Melius Research raised its price target on Micron to $1,100 from $700 and maintained a ‘Buy’ rating on the shares, indicating upside potential of more than 57%. 
• Investors are watching out for Nvidia’s Q1 results, which will provide a crucial read-through for memory chip stocks. 
• Markets are also tuned in to updates from South Korea, where more than 47,000 Samsung Electronics workers are set to go on strike starting Thursday.

Shares of memory chip company Micron Technology Inc. (MU) climbed more than 1.2% in the overnight trading session headed into Wednesday after closing up in the green to reverse three consecutive days of decline.

The uptick comes ahead of AI darling Nvidia Corp.’s (NVDA) much-anticipated quarterly results, as the semiconductor company’s guidance will impact the demand for memory chips and related AI components.

Meanwhile, Micron also received a series of price target hikes from Wall Street analysts, who are predicting tailwinds from growing demand for AI servers.

Micron Gets Wall Street Hikes

On Tuesday, Mizuho raised the price target on Micron to $800 from $740 and maintained an ‘Outperform’ rating on the shares. The revised target implies an upside potential of 14.5% from the last close.

The analyst said the revised price target follows an analysis of the impact of AI data centers on the analog and memory markets, noting that memory companies benefit from tailwinds in NAND and DRAM driven by AI server demand. Mizuho said that it expects supply to remain tight into the first half of 2027.

On Monday, Melius Research raised its price target on Micron to $1,100 from $700 and maintained a ‘Buy’ rating, indicating upside potential of more than 57%. Although the firm highlighted a lack of material updates from Trump’s recent visit to China, Melius Research said that it feels "incrementally good" about memory and AI semiconductor makers, according to The Fly.

Citi also raised the price target on Micron to $840 from $425 and maintained a ‘Buy’ rating on the shares, citing rising DRAM and HBM prices.

All Eyes On Nvidia

Nvidia will report its Q1 results on Wednesday, providing a crucial read-through for memory chip stocks. Micron is a critical partner for Nvidia, supplying the ultra-fast memory and storage required for the chipmaker’s AI architecture and GPUs.

Analysts expect Nvidia to post a jump of about 80% in quarterly revenue to $79.12 billion and an increase of about 120% in adjusted profit to $1.77 per share, according to estimates from Fiscal.ai.

Samsung Workers Strike

Markets are also closely watching updates from South Korea, where more than 47,000 Samsung Electronics workers are set to go on strike starting Thursday amid ruptured wage negotiations between the company and its union. Prolonged disruption is seen as a potential destabilizer for the broader AI hardware supply chain.

MU: Retail Stance

On Stocktwits, retail sentiment around MU stock was in the ‘bullish’ territory amid ‘high’ message volumes at the time of writing.

One bullish user dismissed the impact of the Samsung strike on Micron: “Samsung didn’t matter on our climb from 200 so stop posting that it matters now. Cmon.”

Another user said, “NVDA is going to drive this thing thru the roof tomorrow.”

MU stock has surged a whopping 612% in the last year.

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