Despite Micron Technology, Inc. (NASDAQ: MU ) stock crashing over 17% so far in October 2026, triggered by macroeconomic shifts and competitive pressures, C.J. Muse, a Wall Street analyst at Cantor Fitzgerald, expects a bull rally to a new all-time high (ATH) over the next 12 months.
Muse reiterated an ‘Overweight’ rating on Micron stock , according to a note Finbold viewed on October 21 but sent to clients on Tuesday. He also maintained the firm’s 12-month price forecast for MU at $2,000.
With MU stock trading at about $913.20 in Wednesday’s pre-market, Cantor Fitzgerald sees potential 119.01% upside over the next 12 months. This bullish thesis was centered on the company’s strong long-term fundamentals.
Specifically, Muse noted that Micron has secured 16 Strategic Customer Agreements (SCAs), with 14 featuring set pricing metrics. He highlighted that these SCAs are projected to cover 50% of the company’s total revenue, up significantly from 25% in the May quarter and 35% in the August quarter.
Muse added that memory supply-demand conditions will be tighter in Calendar Year 2027 than in 2026, with persistent supply bottlenecks extending through 2028. Most importantly, the firm signaled a bullish outlook for Micron stock ahead of the planned $35 billion share repurchase authorization on December 9.
Micron stock price prediction
At press time, 29 Wall Street analysts surveyed by TipRanks over the past 3 months had set an average 12-month price target for MU at $1,585.93.
Micron stock price prediction. Source: TipRanks
As a result, these analysts signal a possible bull run of roughly 73.67%.
Is MU a good stock to buy?
Even though Micron stock has faced choppy consolidation since early June 2026, MU price is up nearly 343% over the last 12 months,
MU price performance on October 21. Source: TradingView
Consequently, Micron had a market capitalization of $1 trillion at the time of publication.
Amid this established bullish momentum for MU over the past 12 months, driven by robust demand in the artificial intelligence ( AI ) space, Wall Street analysts believe another rally to a new peak could happen over the next 12 months.
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