MU Stock is Up 169% This Year – BofA Still Expects A Further 24% Upside

• BofA raised its estimate for the total addressable market for AI data center systems in calendar year 2030 to roughly $1.7 trillion, up from its prior forecast of $1.4 trillion.
• The firm said it expects 2026 to remain a year of accelerating AI-related revenue growth and improving returns on investment, as enterprises and hyperscalers continue to ramp up infrastructure spending.
• BofA also noted that 2027 could mark a turning point for AI efficiency and token economics as next-generation compute and memory architectures begin scaling more broadly across the industry.

Shares of Micron Technology Inc. (MU) are up nearly 169% year-to-date, but analysts at BofA expect the stock to rally further.

According to TheFly, BofA hiked its price target for Micron to $950 from $500, implying an upside potential of about 24% from the current levels. The firm maintained its ‘Buy’ rating on the stock.

Micron shares were up more than 4% in Wednesday’s pre-market trade. MU was among the top trending tickers on Stocktwits at the time of writing.

Why Is BofA Bullish On MU?

BofA raised its estimate for the total addressable market for AI data center systems in calendar year 2030 to roughly $1.7 trillion, up from its prior forecast of $1.4 trillion.

The firm said it expects 2026 to remain a year of accelerating AI-related revenue growth and improving returns on investment, as enterprises and hyperscalers continue to ramp up infrastructure spending.

BofA also noted that 2027 could mark a turning point for AI efficiency and token economics as next-generation compute and memory architectures begin scaling more broadly across the industry.

What Do Retail Traders Think Of MU?

Retail sentiment on Stocktwits around Micron Technology trended in the ‘extremely bullish’ territory with message volumes at ‘extremely high’ levels.

One user thinks MU stock could surge to $1,500 by next week after Nvidia’s first-quarter (Q1) results, which are due on May 20, 2026.

Another user thinks that if Micron secures business during the CEO’s trip to China with President Donald Trump, MU stock may soar beyond $1,000 sooner.

Micron CEO Sanjay Mehrotra is among a slew of business executives invited to China, according to a post by President Trump on Truth Social.

MU Delivers 256GB Memory To Key Ecosystem Players

Micron announced on Tuesday that it has sampled 256GB DDR5 memory modules to key ecosystem players. The module is built using Micron’s advanced 1-gamma technology and supports speeds of up to 9,200 MT/s, making it more than 40% faster than memory modules currently in mass production.

Micron said the product uses advanced 3D stacking and through-silicon via technology to improve performance, capacity, and power efficiency for AI workloads. The company added that a single 256GB module can reduce operating power consumption by more than 40% compared with using two 128GB modules, helping improve efficiency in AI data centers.

“Capacity, bandwidth, and power are the defining drivers of AI efficiency. With our 256GB DDR5 RDIMM, Micron is enabling servers to deliver significantly higher performance,” said Raj Narasimhan, senior vice president and general manager of the Cloud Memory Business Unit at Micron.

IDC Outlines Bullish Case For MU

Industry research firm IDC recently outlined a bullish outlook for Micron and other memory-chip companies.

“Hyperscalers are buying a fundamentally different, more expensive class of memory and are willing to pay a premium to secure supply,” the firm stated. IDC added that NAND Flash revenue is expected to reach $174 billion in 2026, representing nearly 139% growth from the prior year.

IDC also noted that, unlike the DRAM market, NAND pricing gains are becoming more widespread. The firm said enterprise SSD prices have climbed sharply as hyperscalers lock in supply, reducing availability across consumer and OEM markets.

MU stock is up 169% year-to-date and 731% over the past 12 months. The S&P 500 ETF Trust (SPY) is up 27% over the past 12 months, while the Invesco QQQ Trust (QQQ) is up 39%.

The iShares Semiconductor ETF (SOXX) is up 148% during this period, while the State Street Technology Select Sector SPDR ETF (XLK) is up 54%.

Also See: Nebius Reports Whopping 684% Jump In Q1 Revenue, Secures Power For New 1.2 GW Facility — CEO Touts ‘Unprecedented Demand’

For updates and corrections, email newsroom[at]stocktwits[dot]com.