Micron’s ridiculously cheap stock could triple from here, according to this analyst’s math

Micron’s ridiculously cheap stock could triple from here, according to this analyst’s math Micron’s ridiculously cheap stock could triple from here, according to this analyst’s math A D.A. Davidson analyst thinks investors aren’t properly appreciating the company’s growth potential or the impact of an upcoming buyback program D.A. Davidson’s Gil Luria raised his price target on Micron’s stock to $3,000. stors are still “early in their journey” when it comes to understanding Micron Technology and how to value its stock, according to an analyst.

Davidson’s Gil Luria believes investors haven’t properly taken into account the company’s expected growth trajectory over the next three to five years, he said. Likewise, he suggested that the stock’s dirt-cheap valuation multiple doesn’t reflect its true worth. On Wednesday, Luria raised his price target on Micron’s stock to $3,000 from $2,100.

The new target implies room for the stock to essentially triple from its current price level of $1,016. Video 91/1 Skip Ad Continue watching after the adVisit Advertiser websiteGO TO PAGE Why humanoid robots are so hard to mass-produceSee All Videos Why humanoid robots are so hard to mass-produce Play video: Why humanoid robots are so hard to mass-produce Luria’s target is based on the idea that investors could come to assign a greater value to every dollar that Micron earns. The target assumes a multiple of about 19 times estimated earnings per share for fiscal 2027, which ends in August.

The stock currently trades at just six times estimated earnings for that fiscal year, according to Dow Jones Market Data. Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it. I agree to the Terms of Use, Privacy Notice and Cookie Notice.

I would like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time. Shares of Micron have risen 266% so far this year, but the price-to-earnings multiple has actually come down since the end of 2025 as expectations for earnings growth have outpaced the stock rally.

One big reason behind Luria’s optimism is that demand for memory chips is set to outstrip supply for several years. AI models generate better results with more memory, run faster with more memory,” he wrote. **See also:**The murky AI milestone that has some of the industry’s leading voices increasingly on edge Another noteworthy catalyst for Micron, Luria wrote, is that the company is expected to launch a major buyback program in December, once it’s free of major restrictions on share repurchases that were a condition of its Chips Act government funding. When companies repurchase their own stock, they reduce the number of shares outstanding, and that can help boost earnings per share.