Micron Faces Earnings Test as Mizuho Lifts Target on AI Memory Demand

Forecasts tied to Nvidia's GB300 suggest Micron could raise its near-term outlook.

Overview

Mizuho on September 16 raised its Micron price target to $182 from $155 and maintained an Outperform rating ahead of the September 23 earnings release.
The firm cites faster high-bandwidth memory demand, with stronger HBM3e sales expected as Nvidia's GB300 accelerators gain traction.
Mizuho estimates GB300 accounted for roughly 25% of Nvidia’s July-quarter shipments and projects the mix could top 50% in October.
The anticipated shift in Nvidia’s product mix is viewed as a potential tailwind for Micron’s November-quarter guidance.
Jim Cramer advised a wait-and-see approach, noting an approximately 80% year-to-date share gain and CEO Sanjay Mehrotra’s conservative messaging.