Aletheia Capital Raises Micron Target Price to $1,600, Forecasts 15X EPS Growth Through 2028

According to Aletheia Capital's research report on June 16, the firm raised its target price for Micron Technology (MU) to $1,600. The report forecasts that AI memory components will comprise over 70% of AI hardware system value by 2027.

Aletheia predicts Micron's FY2027 EPS will grow 8.5 times from current levels, followed by 1.8x expansion in FY2028, for a cumulative 15x increase. The firm also forecasts cumulative free cash flow of $350–$400 billion over the three-year period from FY2026 to FY2028. Micron's stock surged over 10% following the report's release.

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