Cantor Fitzgerald Lifts Micron Price Target to $1,500 From $700

Wall Street added a new top-of-list price target on Micron Technology (NASDAQ: MU) on Monday. Cantor Fitzgerald analyst C.J. Muse raised the firm’s price target on the memory chipmaker to $1,500 from $700 on June 8, 2026, and kept an Overweight rating. The new target implies 60.81% upside from Micron’s previous close, per the firm’s note.

Wells Fargo and Morgan Stanley followed with their own upgrades on June 9, lifting their targets to $1,220 and $1,050, respectively. Susquehanna’s $1,750 from May 29 remains the Street’s most aggressive published number. Micron shares closed at $981.61 on June 12, down 1.43% on the day, against a 52-week high of $1,089.29 set on June 3. The five largest target moves of the year (Susquehanna, Cantor Fitzgerald, Wells Fargo, Morgan Stanley, and TD Cowen) all printed between April 28 and June 9, and the cluster is itself a data point on how fast the AI memory thesis has moved through Wall Street.

Cantor Fitzgerald Lifts Micron Price Target to $1,500 From $700

Cantor Fitzgerald’s June 8 note was the loudest single revision of the cluster. Muse raised the price target from $700 to $1,500, more than doubling the prior number in a single print. The new target implies 60.81% upside from Micron’s previous close, per the note.

The raise came one trading day after Micron’s stock had set its 52-week high of $1,089.29 on June 3, with shares then pulling back to $981.61 by the June 12 close. The new $1,500 target sits above TD Cowen’s $660, Wells Fargo’s $1,220, and Morgan Stanley’s $1,050. It still trails Susquehanna’s $1,750 from May 29, which remains the most aggressive published target on Micron. Cantor Fitzgerald kept the Overweight rating in place rather than upgrading, a signal that the firm was already constructive and was simply resetting the price.

A Cluster of Upgrades in the Same Week

Wells Fargo more than doubled its Micron target to $1,220 from $550 on June 9, 2026, and kept an Overweight rating. The bank started 2026 with a $470 target, having set $170 on Micron as recently as 2025. The new number implies 28% to 41% upside from Micron’s recent close in the $860-to-$950 range, per the firm’s note.

Morgan Stanley lifted its Micron target on the same day, to $1,050 from $520, per coverage of the upgrade. The week before, Susquehanna had set the Street-high print at $1,750 with a Positive rating, more than doubling the firm’s prior $600 target. The five largest moves on the tape (Susquehanna, Cantor Fitzgerald, Wells Fargo, Morgan Stanley, and TD Cowen) all printed between April 28 and June 9, 2026. Bears have stopped publishing fresh numbers, while bulls have revised one after another.

The cluster now lines up in a clear order. Susquehanna sits at the top, Cantor Fitzgerald is second at $1,500, Wells Fargo is third, Morgan Stanley is fourth, and TD Cowen is the most cautious at $660. The spread between the Street-high $1,750 and the most cautious $660 has widened with each new print.

Wells Fargo’s Catch-Up on Micron

No firm illustrates the catch-up problem on Micron better than Wells Fargo. The bank carried a $170 target on Micron as recently as 2025. By early 2026, that had risen to $470. On March 19, 2026, Wells Fargo lifted it to $550, and on June 9, 2026, doubled it again to $1,220.

The Wells Fargo path mirrors the broader Street. By MarketBeat’s count on June 8, 30 analysts had Micron at Buy, 5 had it at Strong Buy, and 4 had it at Hold, with a $668.63 average target in that dataset. The June 8 figure was captured before Wells Fargo and Morgan Stanley raised on June 9, so the post-June-9 average is now higher than $668.63. Micron carried a market cap of $1.05 trillion at the time of the Cantor Fitzgerald call, per MarketBeat. The June 24 print will be the first real chance for bears to publish a counter.

1. $170 (2025)
2. $470 (early 2026)
3. $550 (March 19, 2026)
4. $1,220 (June 9, 2026)

What Bulls Are Paying For in the AI Memory Trade

Micron’s fiscal second quarter delivered the kind of print that justifies the cluster of upgrades, per the company’s Q2 fiscal 2026 release. Revenue reached $23.86 billion, up 196% year over year, and adjusted EPS hit $12.20 against a $9.19-$9.31 consensus, per CNBC’s recap.

Non-GAAP gross margin came in at 74.9%, per the company’s Q2 fiscal 2026 release. The company posted $6.9 billion in adjusted free cash flow for the quarter against $5.0 billion in capex. Both numbers point to the profitability of a memory cycle where demand is currently running ahead of supply. The Q2 print reset the consensus view of where Micron’s earnings power sits.

The numbers matter because Micron’s high-bandwidth memory (HBM) is the specific product under the AI demand wave. The company’s 2026 HBM output is committed under long-term contracts, per management’s earnings call commentary. Nvidia CEO Jensen Huang confirmed in June 2026 that Samsung, SK Hynix, and Micron had all cleared HBM4 qualification for the next Nvidia platform, the same month Nvidia signed a multiyear AI memory co-design deal with SK Hynix in Seoul.

The next leg for the stock is more about durability than earnings upside.

TD Cowen analyst Krish Sankar, who has a 71% success rate and 62.50% average return per rating on Krish Sankar’s analyst track record, summed up the call. HBM has become the cycle’s bottleneck product, and the bottleneck is what the bull case prices. Micron’s December 2025 outlook, covered in Korean financial press, forecast the HBM market growing from $35 billion this year to $100 billion by 2030. That forecast underwrites the Cantor Fitzgerald target. The bet requires three things to stay true: AI capex keeps rising, HBM supply stays tight, and Micron keeps its share of the new HBM4 generation.

The Cycle Risk That Every Target Carries

The problem with a $1,500 target on a memory stock is that memory has always been a cycle. The history of the category is a stack of forecasts that looked obvious in the up-leg and looked absurd in the down-leg.

The Wells Fargo $1,220 target implies 28% to 41% upside that depends on the AI memory cycle extending into 2027 and beyond, per the bank’s own note. The Cantor $1,500 call assumes a structural shift in the industry’s pricing power, not a one-year squeeze. Both bets lose money if hyperscaler AI capex cools, or if HBM supply catches up faster than the customer contracts can absorb.

The Street is not blind to the risk. The TipRanks consensus currently carries a low forecast of $500 on Micron alongside the high of $1,750, capturing the bear and bull cases in one snapshot. Even the more cautious firms (TD Cowen at $660, Melius at $700) are well above where most analysts had Micron priced at the start of 2025. The Q3 fiscal 2026 print on June 24 will be the first real test of the bull case.

The June 24 Earnings Print That Tests the Calls

Micron will report fiscal third quarter results on June 24, 2026, per the company’s investor relations page. That print lands the same week as the post-June-9 cluster of upgrades. It’s the first earnings release to incorporate the full June wave of Street revisions on MU.

Bulls will look for confirmation that HBM remains sold out, that gross margin is holding near 74.9%, and that the HBM4 ramp is on schedule, while bears watch for any sign that HBM pricing is softening, that customer order commitments are rolling off, or that the AI capex thesis is wobbling. The next earnings print will set the next round of revisions. Both ends of the target range (the $660 floor and the $1,750 ceiling) will be re-priced off the June 24 release. The AI capex thesis will be the swing factor on the high-end targets.

Frequently Asked Questions

What is Cantor Fitzgerald’s price target on Micron?

Cantor Fitzgerald analyst C.J. Muse set a $1,500 target on Micron on June 8, 2026, more than double the prior $700, and kept an Overweight rating. The new target implies 60.81% upside from the previous close and trails only Susquehanna’s $1,750.

What is the highest analyst price target on Micron stock?

The highest published target on Micron is $1,750, set by Susquehanna on May 29, 2026, with a Positive rating. Wells Fargo sits at $1,220 and Morgan Stanley at $1,050 in the most recent cluster of upgrades.

When is Micron’s next earnings report?

Micron will report fiscal third quarter 2026 results on June 24, 2026, the company has confirmed. The release will be the first to incorporate the full wave of June 2026 analyst upgrades on the stock.

Why are analysts raising Micron price targets?

Wall Street’s case rests on Micron’s exposure to high-bandwidth memory, the bottleneck product in AI servers. The company posted $23.86 billion in fiscal Q2 2026 revenue, up 196% year over year, with a non-GAAP gross margin of 74.9% and adjusted EPS of $12.20.

Disclaimer: This article is informational only and does not constitute investment advice. Analyst price targets are opinions, not guarantees, and stock prices can fall as well as rise. Figures are accurate as of publication. Consult a qualified financial professional before making investment decisions.