Wall Street Analysts Expect High Upside for Micron and Broadcom Shares
Driven by strong demand for artificial intelligence infrastructure and developments in chip supply, Wall Street analysts project upside potential of approximately 66 percent for Micron Technology shares and 46 percent for Broadcom shares.
As infrastructure investments in artificial intelligence technologies continue, analysts have set new price targets for industry-leading chipmakers Micron Technology and Broadcom, indicating upside potential of 66 percent and 46 percent, respectively.
Micron's Financial Performance and Memory Market
Micron Technology achieved high growth rates in its financial results driven by the increasing memory chip needs of artificial intelligence data centers. In the third quarter of fiscal year 2026, which ended May 28, the company's revenue rose 346 percent year-over-year to reach $41.46 billion.
With adjusted earnings per share for the quarter rising 1,215 percent to $25.11, the average price target for the company was set at $1,515.11 according to Yahoo! Finance data. Experts state that the memory chip bottleneck could last until at least 2028.
Broadcom's Position and Outlook in the ASIC Market
Broadcom, a prominent player in the application-specific integrated circuit (ASIC) market, maintains its share in the AI chip market thanks to long-term agreements with tech giants such as Alphabet and Meta Platforms. In the second quarter of fiscal year 2026, which ended May 3, the company increased its revenue by 48 percent to $22.2 billion.
Having raised its adjusted earnings per share by 54 percent to $2.44 in the second quarter, Broadcom expects annual revenue growth of over 200 percent in its AI chip business for the upcoming quarter. The average price target set by analysts for the company stands at $526.30.