UBS triples price target of Micron to $1,625Micron Technology, Inc.BATS:MUinkicho_exnessMU | 4H Technical Analysis — May 27, 2026 UBS raised its 12-month price target on Micron from $535 to $1,625, citing long-term supply agreements (LTAs) now firmly in place across the memory industry, which lock in up to 30% of DDR volumes at near-current pricing and provide multi-year earnings visibility. UBS expects EPS to remain comfortably above $100 through 2029E and sees the market beginning to assign a more normalized multiple to the stock as AI-driven structural change in the memory complex becomes better understood, with the stock surging more than 10% from the open. MU has been in a powerful uptrend since the April low near 310, with price advancing 563 points (+187%) in a near-uninterrupted move that has carried through every resistance level in sequence. Price is currently trading around 895, with EMA21 (752.62) and EMA78 (608.81) in a sharply widening bullish cross. EMA78 is rising steeply but remains well below the price, reflecting the velocity of the advance. The recovery from the April low was initially gradual, building a base in the 380-420 range before breaking higher in late April. The acceleration has been relentless since, clearing 500, 650, and 815 in succession before the UBS catalyst drove a gap to the current 900 area. Price has now broken above the 815 resistance level that had briefly capped the move in mid-May, with today's gap pushing into fresh all-time high territory. RSI is at 72.96, returning to overbought territory, which is a level that previously preceded brief consolidation periods during the advance but did not derail the broader trend. Key levels to watch: Resistance: 900 (psychological) / 961.09 (1.272 fib) / 1,044.59 (1.618 fib) Support: 815 → 750 (EMA21) → 650 → 608 (EMA78) → 500 Bear case: A fade of the gap and close back below 815 would suggest the UBS catalyst is being sold into. RSI at overbought levels with no consolidation since April increases the risk of a sharper mean reversion toward EMA21 at 750 or the 650–680 zone. Bull case: A hold above 815 and continued follow-through above 900 keeps the path open toward the 961 fib extension. With EPS visibility through 2029 and a re-rating narrative gaining traction, the fundamental case supports sustained upside toward the 1,044 level and beyond. Bias is bullish — the structural uptrend is intact, the LTA-driven re-rating narrative is a multi-quarter catalyst, and price is breaking into all-time high territory with institutional conviction behind the move. Near-term consolidation after the gap would be healthy, but the path of least resistance remains higher.