Overview
- Micron slipped on profit-taking after a roughly 226–230% 2025 gain, having reached a 52-week high near $298.83 and a market value around $325 billion.
- Fiscal Q1 results beat expectations with $13.64 billion in revenue and $4.78 adjusted EPS, and management guided Q2 revenue to about $18.7 billion with record revenue and margins targeted for fiscal 2026.
- Major firms raised targets after the report, including JPMorgan and Cantor at $350, KeyBanc at $325, Needham at $300, and Rosenblatt at $500, with broadly positive ratings maintained.
- Analysts attribute the strength to AI-driven demand for DRAM, NAND and HBM, with industry research estimating roughly 30% of memory demand remains unfulfilled until added capacity starts to ease constraints by mid-2026.
- Micron and analysts highlight a growing HBM opportunity, with the market expected to expand from about $35 billion in 2025 to roughly $100 billion by 2028, as the stock’s trailing P/E hovers near 27.