"Micron has beaten EPS estimates in each of the last four quarters, by 21.33%, 5.94%, 18.94%, and 9.49% respectively. When a company beats this consistently, actual results will almost certainly exceed current forecasts."
"CEO Sanjay Mehrotra forecast 'an HBM TAM CAGR of approximately 40% through calendar 2028, from approximately $35 billion in 2025 to around $100 billion in 2028.' Micron has already locked in its full calendar 2026 HBM supply commitments."
"We believe that the aggregate industry supply will remain substantially short of the demand for the foreseeable future."
"GAAP gross margins went from 38.4% in Q1 FY2025 to 56% in Q1 FY2026, with Q2 guidance pointing to 68% non-GAAP gross margins."
Micron Technology's shares have increased 355% over the past year, driven by its central role in the AI memory supercycle. The stock is currently trading above the analyst consensus price target of $432.49, with 38 out of 43 analysts rating it a buy. Micron has consistently beaten EPS estimates, indicating potential for further growth. Key factors for future price increases include a projected 40% CAGR in HBM demand, tight supply constraints, and significant margin expansion, with gross margins expected to rise to 68% in Q2 FY2026.
Read at 24/7 Wall St.
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