Overview
- Micron shares dipped on profit‑taking after a roughly 230% year‑to‑date rally, trading near a 52‑week high of $298.83 and valuing the company around $325 billion.
- The company’s fiscal Q1 2026 beat included $13.64 billion in revenue and $4.78 in adjusted EPS, with guidance pointing to about $18.7 billion next quarter and record profitability in fiscal 2026.
- Rosenblatt set a Street‑high $500 price target, while JPMorgan and Cantor moved to $350, KeyBanc to $325, and Needham to $300, reflecting broad bullishness on AI‑driven memory demand.
- Management projected a 68% non‑GAAP gross margin for the February quarter as DRAM and NAND contract prices rise and HBM momentum accelerates.
- Lynx Equity highlighted severe supply tightness, estimating roughly 30% unmet demand and suggesting imbalances could begin to ease by mid‑2026 as new capacity ramps.