Overview
- Micron reported a blowout quarter that beat estimates with $25.11 in EPS and $41.46 billion in revenue and set Q4 FY26 guidance of $30.00–$32.00 EPS, giving the company clear near‑term earnings visibility.
- Analysts remain broadly bullish and have raised price targets after recent meetings with management, with Mizuho reiterating an Outperform and a $1,375 target and the Street consensus well above current trading levels.
- Company disclosures described multi‑year Strategic Customer Agreements that include take‑or‑pay clauses and price floors, which lock in revenue but shift some execution risk into later years.
- Management and analysts say DRAM, NAND and high‑bandwidth memory (HBM) supply should stay tight through 2027, a dynamic that supports margins now and has led some customers to alter product plans because of HBM shortages.
- Investors trimmed the stock by about 11–12% in the past month as insider selling of roughly 162,179 shares and the market’s pricing of a potential 2028+ capacity wave and Chinese competition created concern that margins could compress after 2027.