JPMorgan Raises Micron Stock Price Target Ahead of Earnings Report
JPMorgan has raised its price target for Micron Technology (MU) to $1,540 and reiterated an Overweight rating ahead of the company's Q4 earnings report on September 30. The firm cited strong pricing momentum in both DRAM and NAND markets despite earlier warnings from management about a potential moderation in price increases. Micron has consistently beaten analyst expectations for seven consecutive quarters with robust revenue growth, driven by high demand across its product lines including HBM4 shipments and data center sales. JPMorgan believes the company's conservative guidance suggests further upside to consensus estimates as supply-demand conditions remain tight beyond 2027. TheStreet reports that Polymarket traders are pricing a 96% chance Micron will beat earnings expectations, though past post-earnings volatility has led to significant stock price swings. Despite this uncertainty, JPMorgan's analysis supports the bullish case for continued outperformance in Q4.
