Micron Could Reach $1,952 Next Year as AI Demand Lifts $2.167 Trillion Valuation Case
Updated
Updated · Barchart · Jun 5
Micron Could Reach $1,952 Next Year as AI Demand Lifts $2.167 Trillion Valuation Case
1 articles · Updated · Barchart · Jun 5
Summary
$1,952 per share is the next-year target in the latest Micron valuation scenario, implying a $2.167 trillion market cap versus about $1.137 trillion today.
The bullish case assumes Micron can generate $65 billion in FY28 free cash flow and trade at a 3.0% free-cash-flow yield if AI-driven memory demand stays strong for 3 to 5 years.
At $1,022 in midday trading on June 4, Micron was already above most analyst targets even after recent increases; Yahoo Finance's average target rose to $739.47 from $613.22 on May 24.
Using a more conservative FY27 model—$176.41 billion revenue, 29% FCF margin and a 5.0% yield—Micron would be worth about $1.023 trillion, or roughly $910.80 a share, below the current market value.
The gap reflects debate over whether Micron deserves a richer multiple like Nvidia's roughly 2.25% FCF yield, with skepticism centered on the memory industry's long history of cyclical oversupply and price drops.