Micron Earnings: Can MU Stock Beat High Expectations?

Micron’s upcoming earnings report on Wednesday, September 30, arriving after the U.S. market close, will test whether the memory chipmaker can clear lofty expectations. Analysts anticipate fiscal fourth-quarter earnings per share (EPS) of approximately $31.52—a significant increase from $3.03 a year earlier—on roughly $50.6 billion in revenue. Data from TipRanks puts the average MU stock price target at $1,563.93. Ultimately, both the broader Micron stock outlook and the market’s immediate reaction to the earnings will likely depend on management’s guidance for the following quarter.

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Micron Earnings, MU Stock Outlook And Price Target After Results

Micron Earnings Soon: What Wall Street Expects

With the report approaching, the company’s guidance from June has established a high benchmark. At that time, management projected revenue of $50 billion (plus or minus $1 billion), an adjusted EPS of $31 (plus or minus $1), and a gross margin near 86%. Wall Street estimates currently hover slightly above the midpoint of those projections. Micron also boasts a solid recent performance history, having posted $41.46 billion in third-quarter revenue alongside an adjusted EPS of $25.11.

Back in June, Micron CEO Sanjay Mehrotra noted that the record third-quarter results and improved fourth-quarter outlook:

“reflect the strategic value of memory in the AI era.”

Analysts Split On Nvidia Timing And Price Targets

MU stock closed at $1,082.28 on Friday, September 25, marking a 16% gain over the trailing month while sitting about 14% below its 52-week peak of $1,255.

That strong rally leaves little margin for disappointment. Susquehanna analyst Mehdi Hosseini has raised questions regarding the timeline for recognizing revenue from upcoming Nvidia products, noting that sales anticipated for the current year could potentially shift into the next. Meanwhile, on Wednesday, Wells Fargo lowered its price target on MU stock from $1,525 to $1,400 while maintaining its Overweight rating.

Also Read: When Will Micron Stock Price Reclaim Its $1255 Peak?

Conversely, other financial institutions remain optimistic and have updated their targets ahead of the release. Citigroup lifted its MU stock price target from $1,150 to $1,300 and kept a Buy rating, with analyst Atif Malik citing tight supply conditions and rising DRAM pricing. Rosenblatt analyst Kevin Cassidy also maintained a Buy rating alongside a $1,500 target.

BMO Capital analyst Harsh Kumar reiterated a Buy rating and a $1,300 price target, observing that:

“memory remains in a supercycle as demand trends continue to exceed supply through CY27.”

Taking a more cautious stance, Goldman Sachs analyst James Schneider holds a Hold rating and an $1,100 price target, though he still anticipates that Micron will deliver:

“another strong quarter.”

Micron Earnings Soon: What Could Move The Stock

Investors are tracking several factors beyond the headline financial metrics. In June, CFO Mark Murphy remarked that Micron’s balance sheet:

“has never been stronger.”

Additionally, Micron has secured 16 multi-year strategic customer agreements, bolstering visibility and supporting the long-term stock outlook. The company also unveiled a 512GB DDR5 server module in mid-September, with volume production scheduled for the second half of 2027.

Market participants are increasingly focused on fiscal 2027 guidance. Expectations of continued shortages for NAND and DRAM through 2027 provide a tailwind for the stock. However, if any potential Nvidia revenue delays materialize or profit margins miss expectations, the shares could experience rapid profit-taking. Because a robust quarter is already priced in, the stock’s immediate reaction will likely hinge on forward-looking guidance, making the upcoming trading sessions potentially volatile for shareholders.