Micron Technology Growth Supported by Strong Demand, Rising Memory Prices, Wedbush Says

11:46 AM EDT, 09/28/2026 (MT Newswires) -- Micron Technology (MU) is benefiting from strong compute and accelerator demand as well as rising memory prices despite longer-term supply risks, Wedbush Securities said in a note Monday. The investment firm said demand for compute and accelerators is set to grow at a mid- to high-double-digit rate through 2027, which should drive memory and storage demand above what industry supply growth can support. Demand from large hyperscale customers is also expected to increase, particularly for NAND, the firm said. Looking further ahead, supply-demand conditions in 2028 to 2029 are less certain as new fabs come online, Wedbush said, adding that memory prices are expected to continue rising in 2027, while memory companies such as Micron Technology are likely to return significant cash to shareholders. "While we remain bullish on the memory sector given the above, we would note that we believe Micron's fiscal Q4 pricing trends will be in excess of peers' calendar Q3 reports given the inclusion of the June month," Wedbush said. The company is scheduled to report fiscal Q4 results on Wednesday. Wedbush Securities reiterated its outperform rating and price target of $1,400 on Micron Technology. Micron shares were down 3.8% in Monday trading. Price: 1041.53, Change: -40.75, Percent Change: -3.77