Micron Technology

*this image is generated using AI for illustrative purposes only. Micron Technology Inc. S. companies this earnings season. The company reports fiscal fourth-quarter results on Wednesday, Sept. 30, after the close. 03 in the same quarter a year ago. 32 billion previously. In a separate corporate development, Micron appointed Deirdre Hanford as president of Micron Research Labs, its long-term semiconductor research arm. The Boise, Idaho-based hub was announced in August 2026 and is backed by a planned $10 billion investment over the next decade.

Hanford brings 37 years of experience from Synopsys, covering semiconductor design, security, and public-private partnerships. She will oversee the lab’s research strategy and expand collaborations with universities, governments, startups, and technology partners. S. manufacturing and research and development. Pella Funds CIO Jordan Cvetanovski recently told CNBC that memory companies could perform well for another one to two years, citing unusually high margins and industry returns. Micron makes two kinds of memory chips: DRAM, the working memory a computer uses while it is running, and NAND, the storage that holds data when the power is off.

AI servers need far more DRAM per machine than ordinary servers. They also need a specialized version called high-bandwidth memory, or HBM, which stacks DRAM chips to move data faster to the processor. Memory supply could not expand fast enough. Prices went up instead. Conventional DRAM contract prices rose 90% to 95% quarter over quarter in the first calendar quarter of 2026 and another 58% to 63% in the second, according to TrendForce. Source: Micron Technology quarterly results and company guidance TrendForce expects DRAM contract price increases to moderate to 13% to 18% quarter over quarter in the third calendar quarter of 2026, which covers most of Micron’s fiscal fourth quarter.

Consumer buyers in PCs and smartphones have reached the limit of what they will pay. Micron’s own guidance carries the same signal. Revenue is guided to grow 21% sequentially, after growing 74% the quarter before. Earnings are guided to grow 23% sequentially, after growing 106%. Memory has always been cyclical. Prices rise, every producer expands capacity, supply catches up, and prices fall faster than they rose. Micron lost money as recently as fiscal 2023. 9 times annualized current earnings. That is the market saying it does not expect this level of profit to persist.

Micron has signed 16 strategic customer agreements, multi-year contracts in which some pricing is fixed or set within a floor and a ceiling. Remaining performance obligations under those agreements stood at approximately $100 billion as of the third quarter. That is an attempt to convert a price spike into contracted revenue. Micron remains in a long-term uptrend but shows signs of near-term consolidation. 59, indicating neutral momentum. 50 , close to the 100-day SMA and a recent swing-low area. The 20-day SMA remains above the 50-day SMA, which is above the 200-day SMA, supporting the broader bullish trend.

Micron carries a consensus Buy rating from 27 analysts tracked by Benzinga Analyst Ratings, with 26 Buy ratings and one Hold. 4% upside from current levels. Targets set over the past three months run from $1,100 to $2,000. Recent analyst actions include: The lowest target among recent actions belongs to Goldman Sachs analyst James Schneider, who raised his target to $1,100 on June 25 while keeping a Neutral rating. The highest, at $2,000, is shared by Cantor Fitzgerald, Barclays, DA Davidson and Susquehanna. Options pricing implies a move of roughly 11% in either direction after the report.

16%. The stock is up about 240% in 2026. 77. 69, highlighting a divergence between strong operational metrics and current valuation characteristics.