Micron Stock Receives Wall Street Upgrade Ahead of Earnings Report
Micron Technology (NASDAQ: MU) is receiving increased attention from Wall Street ahead of its fiscal fourth-quarter earnings report on Sept. 30, with Citi analyst Atif Malik raising his price target for the stock to $1,300 from $1,150. The upgrade reflects strong DRAM and NAND pricing trends driven by tight supply and growing demand in AI and data center markets. Micron's market cap has surpassed $1 trillion this year due to robust financial performance. In its fiscal third quarter (ending May 28), the company reported revenue of $41.45 billion, a 345% increase from the prior year, with net income surging by over 1,398%. The data center segment saw particularly strong growth across all business units. Analysts expect Micron to report Q4 revenue around $51.2 billion and earnings per share of approximately $31.56. The company's outlook for the next fiscal year will be closely watched by investors, as continued supply constraints in DRAM and NAND are expected through 2027.
Tickers: $MU
Topics: AI demand DRAM pricing Micron Technology NAND market stock price target