Micron Technology, Inc. (NASDAQ:MU) is included in our list of the 14 hedge fund favorites with strong setup in 2026.

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As of April 3, 2026, over 90% of covering analysts keep positive ratings on Micron Technology, Inc. (NASDAQ:MU), making the company one of Wall Street’s strongest analyst setups. Growing confidence in the longevity of the memory upcycle, and Micron’s leverage on AI-driven demand, continue to drive the 50% upside based on the analyst consensus.

On March 16, 2026, RBC Capital increased its price target for Micron Technology, Inc. (NASDAQ:MU) from $425 to $525 while keeping an “Outperform” rating, supporting overall optimism. The firm stated that its base case assumes prices will continue to rise through this year amid ongoing pricing strength. RBC anticipates that DDR cost will eventually level off, but tailwinds related to HBM pricing and content will be key drivers through 2027.

Additionally, RBC emphasized the Rubin Ultra platform as a roughly 3.5x increase in memory content per system, which could boost the company’s revenue per unit. The firm also stated that structural demand drivers, such as HBM and DDR/eSSD demand in data centers, are significantly more important in this cycle and may support further multiple expansion if the upcycle can be sustained.

Micron Technology, Inc. (NASDAQ:MU) provides memory and storage solutions sold into cloud server, enterprise, graphics, networking, smartphones, mobile devices, automotive, industrial, and consumer markets, among others.

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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