Micron Stock Price Target Cut to $1,300 by Mizuho: MU Rally Faces New Test

Micron stock price target expectations shifted this week, and that’s after Mizuho cut its number on Micron Technology, or MU, down to $1,300 from $1,375 on August 25, 2026, while also keeping its Outperform rating in place. The lower Micron stock price target signals a bit of caution about how much further the rally can run, and the change lands right as traders are also weighing a broader Micron stock forecast heading into the rest of 2026. Wall Street’s overall Micron stock price target 2026 picture still points higher, even with this one cut factored in, at least at the time of writing.

Micron Stock Forecast Shifts as Mizuho Lowers Its Price Target

What Mizuho Changed

Mizuho analyst Vijay Rakesh trimmed his Micron stock price target down to $1,300 from $1,375, a $75 cut, and he also reiterated his Micron stock outperform call on the shares while he was at it. This kind of Micron stock price target lowered move still sits well above where MU shares were trading, at $910.43 at the time of writing, so the new number still points to some real upside even after the trim. Rakesh is also one of the more closely followed analysts on the name, and his Micron stock outperform rating has stuck around through a few rounds of target changes this year already.

Why The Micron Stock Price Target Came Down

Rakesh kept his Buy-equivalent view intact, and he pointed to strong memory demand as the reason he isn’t backing away from Micron. On why the number came down a bit, here’s what he actually said:

Vijay Rakesh said:

Some multiple compression from concerns around de-specing on future GPU/ASICs.

That’s a pretty technical worry, basically about how much memory next-generation AI chips will really need once they hit production, and not a sign that Micron’s business itself is weakening. The move also fits into the wider Micron stock price target 2026 debate going on across the Street right now, with firms landing on pretty different numbers depending on how much they trust the AI memory demand story to keep holding up. This kind of Micron stock price target lowered news isn’t all that unusual either, with cuts and hikes going back and forth across the sector every few weeks.

Where That Leaves The Stock

Mizuho’s $1,300 Micron stock price target sits below BMO’s own $1,300 call from earlier in August, above Citi’s $1,150 figure, and well under the roughly $1,502 average across the 46 analysts that S&P Global tracks on the name. That spread is exactly why the Micron stock price target 2026 picture keeps splitting opinion, even among firms that all rate the stock a buy anyway. The Outperform rating tells you Rakesh isn’t turning bearish here, just adjusting how much upside the market already prices into the stock after a pretty sharp run higher this year, and it also keeps his Micron stock outperform stance among the more bullish calls on the Street even after the cut.

Investors weighing whether this target lowered call changes anything should also note that every major firm still rates the stock a buy, they just disagree on how far the AI memory story can run before it cools off some. The next earnings report should show whether this Micron stock forecast view holds up, or whether Mizuho revises the $1,300 figure again before the year is out. Until then, the gap between $1,150 and $1,502 across Wall Street’s coverage says more about how unsettled this call really is than any single number does.