Investment Bank DA Davidson: Raises Micron's Price Target to $2000, Maintains Buy Rating

BlockBeats News, June 25th, U.S. investment bank DA Davidson released a research report stating that Micron Technology has entered a new phase with one of the best earnings visibility in the semiconductor industry, which is a sharp contrast to its past role in the semiconductor market. Driven by another quarterly performance far exceeding expectations and positive forward-looking guidance, the stock price surged. These signals indicate that the current memory chip upcycle is far from over.

Despite the company's increasing capacity investments (with expected capital expenditures of $10 billion in the fourth quarter of the 2026 fiscal year), leading to additional supply, management expects the storage market to remain in a tight supply-demand balance at least until 2027.

Based on this, DA Davidson reiterated its "Buy" rating on Micron and raised the target price from $1500 to $2000, corresponding to a 20x price-to-earnings ratio based on the expected earnings per share (EPS) for the 2026 calendar year.