Overview
- Micron’s stock has slid about 12% from late‑June highs and is trading around $857–$863 after recent volatility in the market.
- The company reported an outsized quarter with $25.11 EPS, $41.46 billion in revenue, and guidance for Q4 EPS of $30.00–$32.00 that underpin the bullish case.
- A broad swath of Wall Street remains positive, with dozens of Buy or Strong Buy ratings and multiple firms raising 12‑month targets into the $1,100–$1,650 range.
- Analysts and management point to constrained DRAM, NAND and especially HBM supply through 2027 as the reason for pricing power while investors price medium‑term risk from new fab builds expected to add capacity from 2028 onward.
- Recent insider sales worth roughly $168 million have drawn investor attention and the key near‑term indicators to watch are hyperscaler orders, HBM pricing, Micron’s execution on capacity, and rival capex timelines.