Micron Technology's Strong Outlook Despite Memory Stocks Dip: Morgan Stanley Raises Price Target to $338

Morgan Stanley has raised its price target on Micron Technology (NASDAQ:MU) to $338, maintaining an Overweight rating. The analyst notes that despite recent declines in memory stocks, the firm's positive outlook remains strong due to tightening memory supply and strong earnings ahead. Micron is scheduled to release its fiscal 2026 Q1 results on December 17, with guided revenue of $12.5 billion and non-GAAP earnings of $3.75 per share. The growth is driven by a favorable demand-supply environment in the memory market fueled by AI.