Overview
- Micron shares hit a new all‑time high near $289 on Wednesday, extending a year‑to‑date surge of more than 220% on AI momentum.
- The company reported fiscal Q1 revenue of $13.64 billion and adjusted EPS of $4.78, and guided to $18.7 billion for Q2, topping Wall Street expectations.
- Management says HBM output is fully committed through 2026 with most pricing set, as industry checks point to sharp price increases across HBM products.
- Morgan Stanley lifted its price target to $325 and Rosenblatt to $500, while analysts remain divided on when supply tightness eases, ranging from mid‑2026 to late‑2027.
- Micron’s HBM3E is qualified in Nvidia and AMD data‑center GPUs, and the company is preparing to ramp HBM4E as CEO Sanjay Mehrotra projects the HBM data‑center market could reach about $100 billion by 2028.