UBS analyst Timothy Arcuri reiterated a Buy rating on Micron Technology (MU) ahead of the company’s upcoming quarterly earnings report. He maintained a $1,625 price target.
Arcuri cited a widening gap between memory-chip supply and demand, driven by the artificial intelligence boom, as a key reason for his positive outlook.
He also sees potential for significant share buybacks. Restrictions on repurchases tied to CHIPS Act funding are set to expire on December 9, 2026. Arcuri expects Micron to begin buying back around $20 billion in shares per quarter, with the possibility of increasing that pace.
More stable earnings from long-term contracts also support his bullish forecast.