Boasting a market capitalization of $1.19 trillion, Micron Technology, Inc. (MU) is one of the world's largest manufacturers of memory and storage semiconductors. The company designs and produces DRAM, NAND flash memory, and solid-state storage products used in a wide range of devices, including data centers, artificial intelligence servers, personal computers, smartphones, automotive systems, and industrial equipment.
MU is expected to release its Q3 2026 earnings after the market closes on June 24. Ahead of the event, analysts expect the company’s EPS to be $20.81 on a diluted basis, up 1,102.9% from $1.73 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in each of its last four quarters, which is impressive.
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For fiscal 2026, analysts project the company’s EPS to be $60.34, up 685.7% from $7.68 in fiscal 2025. Moreover, its EPS is expected to rise 95% year over year to $117.64 in fiscal 2027.
www.barchart.comMU stock has climbed 761.5% over the past 52 weeks, significantly outperforming the S&P 500 Index’s ($SPX) 22.2% rise and the State Street Technology Select Sector SPDR ETF’s (XLK) 51.7% rise during the same time frame.
www.barchart.comOn June 23, Micron's stock fell 13.6% after reports that South Korea's SK Hynix is slowing the expansion of its high-bandwidth memory (HBM) production. While the news initially raised concerns about weakening AI demand, the move appears to be driven by profitability rather than demand, as SK Hynix is shifting capacity toward conventional DRAM chips, where margins are currently higher.
Meanwhile, memory makers continue to benefit from tight supply conditions and strong pricing power. The selloff was also fueled by profit-taking following Micron's roughly 300% rally this year and concerns that higher interest rates could weigh on AI-related spending and lofty valuations.
Analysts are strongly bullish about MU, with the stock having a “Strong Buy” rating overall. Among the 41 analysts covering the stock, 31 are recommending a “Strong Buy,” five suggest a “Moderate Buy,” and five suggest a “Hold.” MU’s average analyst price target of $1,058.91 offers a marginal upside potential.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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