We're raising our Micron price target after an incredible quarter and robust guidance
Micron signaled that fiscal 2027 will be another strong year as demand for its memory products continues to exceed supply.
TL;DR
- Micron's fiscal Q4 revenue surged 379% year-over-year to $54.23 billion, beating consensus.
- Adjusted EPS increased 1,002% to $33.42, also exceeding expectations.
- High demand for AI memory products (DRAM, NAND, HBM) is causing significant supply shortages.
- Industry demand is expected to exceed supply through fiscal years 2027 and 2028.
- Micron is signing SCAs to create a more stable business model with defined pricing bands.
- The company expects substantial free cash flow, paving the way for a significant share repurchase program.
- Micron's price target has been raised to $1,200, reiterating a buy-equivalent rating.