Micron Has Strong Q3 Earnings and Rising Guidance. Is It a Buy?

3 weeks ago 8

Vandita Jadeja

Sun, July 19, 2026 astatine 11:00 AM CDT 4 min read

Quick Read

Micron (MU) earns a high-confidence BUY astatine $928.59 contempt a 14% play drop, backed by $50B Q4 guidance and $100B successful locked lawsuit agreements.
Peers Sandisk (SNDK) and Western Digital (WDC) corroborate the AI representation boom, with Sandisk posting 251% gross maturation astatine 78% margins, making Micron's people look conservative.
Mehrotra warned DRAM request volition transcend proviso beyond 2027, but CXMT's $8.5B IPO is the azygous hazard that could unravel Micron's bull case.
Act now: the expert who called NVIDIA successful 2010 conscionable named his apical 10 AI stocks — and Micron Technology didn't marque the cut. Grab the names FREE today.

Chip stocks person taken a deed this week, and Micron Technology (NASDAQ:MU) sits astatine the halfway of the pullback. After a historical tally done the archetypal fractional of 2026, shares person surrendered crushed connected TSMC capex worries, Chinese rival CXMT's planned IPO, and chatter astir imaginable HBM export controls.

Micron Technology Inc.

Our 24/7 Wall St. terms people for Micron is $928.59, implying 8.84% upside from Thursday's adjacent of $853.20. Recommendation: Buy astatine precocious confidence.

24/7 Wall St. Price Target Summary

A Blockbuster Quarter Followed by a Sharp Reset

Micron is down 13.96% implicit the past week and 16.4% implicit the past month, yet inactive sits connected a 199.12% year-to-date summation and trades 19% beneath its 52-week precocious of $1,254.81.

Fiscal Q3 2026, reported June 24, 2026, delivered gross of $41.46 cardinal (up 345.7% twelvemonth implicit year), non-GAAP EPS of $25.11, and gross borderline of 84.9%. Q4 guidance points to $50 cardinal successful gross and astir 86% gross margins. The selling reflects sentiment shifts portion fundamentals stay strong.

The Case for $1,300 oregon Higher

The bull lawsuit rests connected a structural representation shortage. CEO Sanjay Mehrotra told analysts "DRAM and NAND manufacture request continues to importantly transcend manufacture supply. We expect choky conditions to persist beyond calendar 2027."

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Micron has already shipped implicit $1 cardinal successful HBM4 revenue, with 16 Strategic Customer Agreements covering astir $100 cardinal successful remaining show obligations.

KeyBanc raised its people to $1,750 during the pullback. The bull script reaches $1,330.10 wrong 12 months, a 55.9% instrumentality if HBM pricing and SCA volumes way management's plan.