Added to YB: 2026-03-25
Pitch date: 2026-03-23
MU [bullish]
Micron Technology, Inc.
-1.43%
current return
Author Info
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Company Info
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products in the United States, Taiwan, Japan, Mainland China, Hong Kong, Europe, and internationally.
Market Cap
$476.9B
Pitch Price
$401.28
Price Target
934.00 (+131%)
Dividend
0.14%
EV/EBITDA
12.74
P/E
19.89
EV/Sales
8.11
Sector
Semiconductors and Semiconductor Equipment
Category
growth
Weekly #74: Micron Q2 2026. The Supercycle Just Got Louder. My Target Goes to $934.
MU (increased price target): Q2 rev $23.86B (+196% YoY) vs $18.7B guide; EPS $12.20 beat $9.21 est; 75% gross margin, 69% op margin. Q3 guide $33.5B rev, 81% margin, $19.15 EPS exceeds entire FY24 rev. AI-driven pricing power (mid-60%+ ASP gains), HBM sold out through 2026, first 5yr Strategic Customer Agreement signed. Iran war helium crunch hits Samsung/SK Hynix harder than MU's US-sourced supply. Raising PT to $934 (from $480) on 65-81% sustainable margins vs 40% prior assumption. FY26 now tracking $109B vs $74B est. Risk: new fabs 2027-28 could flood market if AI demand cools.
Read full article (16 min)