Overview
- Micron reports fiscal Q1 2026 after the close on December 17, with consensus near $12.8–$12.9 billion in revenue and roughly $3.9–$3.96 in adjusted EPS.
- Options pricing implies roughly a 9% move in either direction following the earnings release, signaling high event risk.
- Wedbush, Needham, Stifel, Citigroup, UBS, and others raised price targets—many to about $300—citing tighter DRAM/NAND supply and stronger pricing through 2026.
- Micron says HBM is sold out through 2025 and 2026 and has begun shipping 12‑layer HBM3E for Nvidia’s Blackwell Ultra after quality verification.
- The company is winding down its Crucial consumer brand by February 2026 as it pivots to higher‑margin data‑center memory, with shares up roughly 170%–175% year‑to‑date.