Micron Stock Stumbles After 12-Day Winning Streak. Wall Street Boosts Price Targets Ahead of Earnings.

Analysts at Barclays and Wedbush Securities boosted their price targets for Micron stock ahead of earnings. (Courtesy Micron)

Key Points

About This Summary

• Micron Technology’s stock looks poised to end a 12-day winning streak.
• Wedbush Securities reiterates an Outperform rating, raising its price target to $200, citing increased cloud-service demand.
• Barclays also reiterates an Outperform rating, boosting its price target to $175 before next week’s earnings report.

Micron Technology’s 12-day winning streak looked set to end Friday, with the stock falling sharply after a relentless bull run.

Micron shares were down 5.4% to $159.70, making it the second-worst performer in the S&P 500. The stock closed at a record high Thursday of $168.89, having risen 43% over the last 12 sessions. That’s its best 12-day stretch since March 2009, according to Dow Jones Market Data.

There wasn’t an obvious catalyst for the weekslong rise, as Barron’s reported earlier this week. But some on Wall Street believe the memory chip maker still has room to rise ahead of its fiscal fourth-quarter earnings report next Tuesday.

Wedbush Securities reiterated an Outperform rating on the stock and raised its price target to $200 from $165, citing an unexpected uptick in demand from cloud-service providers over the last few weeks.

The firm’s conversations suggest demand for various memory hardware products have spiked. While it is unclear why cloud-service providers require more memory chips now, “this change should shift expectations moving forward substantially,” wrote Wedbush analysts Matt Bryson and Antoine Legault in a research note.

The pair urged some caution given the lack of an obvious cause for the spike in demand. But they lifted their estimates for the remainder of 2025 and 2026, noting that Micron should benefit from stronger sales and improved pricing power.

Tom O’Malley of Barclays, meanwhile, said some of the new demand for NAND memory chips may be a temporary uptick due to “large procurement efforts last week” in Silicon Valley. Even so, Micron will likely post results modestly ahead of its most recent guidance and issue a materially stronger forecast for the quarters ahead, O’Malley said in a research note.

Barclays reiterated an Outperform rating for the stock and boosted its price target to $175 from $140 ahead of next week’s earnings report.

Write to Nate Wolf at nate.wolf@barrons.com