MU
Micron Technology Inc
NASDAQ: MU · TECHNOLOGY · SEMICONDUCTORS
$981.61
-1.43% today
Updated 2026-06-12
Market cap
$1.20T
P/E ratio
50.12
P/S ratio
20.65x
EPS (TTM)
$21.23
Dividend yield
0.05%
52W range
$103 – $1,089
Volume
50.0M
Micron Technology Inc (MU) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed MU price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$981.61
Today
Analyst consensus
$614.00
-37.45% · 12M
2030 Base
$1,564.94
+59.43% future
NPV today
$898.16
@ 13% WACC
48 analysts:
35 Buy4 Hold1 Sell
Management guidance
Micron management has not provided specific revenue targets through 2030 in recent guidance. However, CEO Sanjay Mehrotra has emphasized aggressive DRAM and NAND capacity expansion to capture AI-driven demand, with capex investments signaling confidence in sustained 40%+ growth through 2027. Management's strategic posture indicates belief in multi-year elevated pricing and volume growth driven by hyperscaler AI infrastructure buildout.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
MU · Micron Technology Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$770.86
NPV today: $442.42
Base case (2030)
$1,564.94
NPV today: $898.16
Bull case (2030)
$2,200.21
NPV today: $1,262.76
WallStSmart.com
MU financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $37.4B | $65.0B | $90.0B | $110.0B | $145.0B | $180.0B |
| Revenue growth | 48.9% | 200.1% | 69.8% | 40.9% | 27.8% | 20.0% |
| Net margin | — | 103.1% | 132.1% | 146.8% | 135.5% | 126.7% |
| EPS | $4.78 | $59.37 | $105.25 | $142.80 | $173.50 | $201.25 |
| Diluted shares | — | 1129M | 1130M | 1131M | 1132M | 1133M |
| Net debt | — | $4.22B | $7.68B | $12.57B | $18.82B | $26.32B |
| P/S multiple | — | 12.0x | 12.0x | 11.0x | 10.0x | 10.0x |
| Implied price (base) | — | $687.23 | $948.96 | $1,058.62 | $1,264.01 | $1,564.94 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $180.0B | $180.0B | $180.0B |
| P/S multiple | 5.0x | 10.0x | 14.0x |
| Diluted shares | 1133M | 1133M | 1133M |
| Net debt | $26.32B | $26.32B | $26.32B |
| Implied P/E † | 4x | 8x | 11x |
| 2030 Price | $770.86 | $1,564.94 | $2,200.21 |
| NPV @ 13% | $442.42 | $898.16 | $1,262.76 |
† Implied P/E: Multiples remain elevated across all three scenarios because MU is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $1,564.94 base case
MU catalysts and risks
Growth catalysts
+ AI data center DRAM demand surge from Meta ($60B capex), Microsoft ($80B capex), Google, and hyperscalers through 2028
+ DRAM and NAND pricing power from supply constraints and memory fab capacity limitations (Samsung strike risk, geopolitical tensions)
+ Advanced packaging leadership (HBM for AI accelerators) and next-gen process node transitions driving ASP expansion
+ Potential $50B+ U.S. CHIPS Act funding and geopolitical nearshoring incentives for domestic capacity expansion
Key risks
- Memory chip cyclicality: oversupply risk if hyperscaler capex moderates or demand growth stalls post-2027
- China competition escalation: YMTC and other Chinese fabs ramping NAND/DRAM capacity; geopolitical export restrictions could disrupt supply chains
- Valuation compression: current 37.9x P/E assumes sustained 40%+ growth; normalization to 20-25x P/E on terminal growth would compress stock 40-50%
- Taiwan/South Korea geopolitical risk: 60%+ of advanced memory capacity concentrated in Taiwan/South Korea fabs; military conflict would devastate supply
- Technology transition risk: next-gen DRAM (DDR6) and NAND processes require massive R&D; execution missteps could cede market share to SK Hynix/Samsung
Methodology · Micron Technology Inc 2030 stock forecast model
Micron Technology Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 48 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (1% cumulative for MU by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($26.32B by 2030) |
| 3. Time value | NPV calculated using 13% WACC (sector fallback) |
| 4. Multiple framework | P/S compresses with scale: bear 5.0x / base 10.0x / bull 14.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
MU price target FAQ
What is the MU price target for 2030?
WallStSmart's Micron Technology Inc 2030 base case is $1,564.94 per share, with a bull case of $2,200.21 and bear case of $770.86. The NPV of the base case discounted to today at 13% WACC is $898.16.
How is the Micron Technology Inc 2030 stock forecast calculated?
The MU 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the MU price target account for dilution?
Micron Technology Inc is projected to grow diluted share count from 1128M to 1133M by 2030 (a 1% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 1%.
What is the analyst consensus on MU stock?
48 analysts cover MU with an average 12-month price target of $614.00. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.