Aletheia Lifts PT on Micron Technology, Inc. (MU) to $650 From $315 - Here's Why

Micron Technology, Inc. (NASDAQ:MU) is one of the best undervalued stocks to invest in right now.

On March 4, Aletheia lifted the price target on Micron Technology, Inc. (NASDAQ:MU) to $650 from $315, maintaining a Buy rating on the shares and telling investors that the surge in demand for AI training and inference is continually driving massive consumption of HBM, while the rapid emergence of agentic AI workloads “requires equally large volume (if not more) of diversified memories”. The firm doubled the FY26 EPS estimates and tripled its FY27 estimates.

Goldman Sachs also raised the price target on Micron Technology, Inc. (NASDAQ:MU) to $360 from $235 on March 3, maintaining a Neutral rating on the shares. The same day, Micron Technology, Inc. (NASDAQ:MU) announced that it extended its leadership in low-power server memory by shipping customer samples of the industry’s highest-capacity LPDRAM module: 256GB SOCAMM2. It stated that the milestone marks a transformation step forward for AI data centers, enabled by the industry’s first monolithic 32Gb LPDDR5X design and delivering low-power memory capacity that can unlock new system architectures.

Micron Technology, Inc. (NASDAQ:MU) provides innovative memory and storage solutions. Its operations are divided into the following segments: Compute and Networking Business Unit (CNBU), Mobile Business Unit (MBU), Embedded Business Unit (EBU), and Storage Business Unit (SBU).

While we acknowledge the potential of MU as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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