Overview
- Deutsche Bank lifted its Micron target to $300 and reiterated a Buy rating, citing stronger pricing, expanding gross margins, and consistent execution.
- Micron reported fiscal Q1 2026 revenue of $13.6 billion, up 57% year over year, with non‑GAAP EPS of $4.78.
- The company guided for fiscal Q2 revenue of $18.7 billion and non‑GAAP EPS of $8.42, signaling continued momentum.
- Micron said its entire 2026 HBM output is already under price and volume agreements, with HBM4 slated to ramp in fiscal Q2 2026 and a projected HBM TAM of $100 billion by 2028.
- AI‑driven memory demand is tightening supply, with reports of Samsung raising prices about 60% and Counterpoint Research estimating server memory prices could double by the end of 2026.