Deutsche Bank Raises Micron (MU) Target to $1,500 on Expected Prolonged Memory Shortage

Deutsche Bank (DB-US) significantly raised its price target for memory chip leader Micron Technology (MU-US) to $1,500 from $1,000, maintaining a "Buy" rating. The new target implies a 47% upside from Micron's last closing price of $1,020.76. This upgrade comes as analysts anticipate sustained high memory prices and a prolonged supply shortage through 2028. Deutsche Bank analyst Melissa Weathers cited Micron management's growing optimism on its financial outlook and the company's consistent outperformance of Wall Street earnings forecasts. The bank projects Micron's revenue for the current quarter, set to be reported on June 24, 2026, at $35.1 billion, exceeding the company's $33.5 billion guidance. The memory market's supply-demand imbalance, fueled by the AI boom, is expected to persist and potentially worsen until at least 2028. Micron's stock has surged approximately 260% year-to-date. This bullish outlook aligns with broader Wall Street consensus, with 44 out of 47 analysts tracking Micron recommending "Buy" or "Strong Buy."