Overview
- Micron shares rose about 125% in six months, yet Friday reports show a Strong Buy call with a $543 average target and a 7–8x forward P/E.
- The company posted record Q2 FY2026 results with $23.9 billion in revenue and guided Q3 to $33.5 billion with gross margin near 81%.
- Micron’s high‑bandwidth memory supply is sold out through 2026 with 2027 allocations set, and the company signed its first five‑year customer contract.
- Evercore initiated SanDisk at Overweight with a $1,200 target and a $2,600 bull case, citing AI storage demand and multi‑year supply commitments.
- Analysts still flag risks such as efficiency gains like Google’s TurboQuant that could cut memory needs, plus heavy industry capex and China exposure that could pressure prices by 2027–2028.