Micron Technology, Inc. (MU) Presents at The KeyBanc Technology Leadership Forum 2026 Transcript
An analyst says that Nvidia's move to downgrade some chip capabilities could end up boosting consumption of high-bandwidth memory.
I believe Micron Technology, Inc. remains a Buy with ~47% 12-month upside, driven by robust demand and favorable multi-year customer agreements. MU's Q3 2026 saw $41.46B revenue (+74% YoY), 84.9% gross margin, and $25.11 EPS (+13x YoY), significantly beating consensus. Strategic Customer Agreements secure ~20% of 2030 DRAM and 1/3 of NAND volumes at solid margins, flattening cyclicality risk.
Micron Technology has endured one of its most volatile periods in years, with investors questioning whether the AI-driven memory boom can sustain the chipmaker's record earnings. Although the stock has rebounded 12% over the past five trading sessions, it remains roughly 30% below its all-time high of $1,255 reached on June 25 following the company's fiscal third-quarter earnings report.
The S&P 500 doesn't seem to know how to stop climbing.
Micron Technology MU shares fell more than 1.8% on Friday as investors weighed fresh investment plans from South Korean memory chip maker SK Hynix alongside a more cautious outlook for memory pricing from Citi. The memory-chip maker has declined about 9% over the past month, although the stock remains up more than 660% over the past 12 months.
Micron stock was gaining despite the investment plans of its memory-chip peer SK Hynix.
While Sandisk and Western Digital shares were down, Micron erased its intraday losses.
The memory chip boom has been one of the most explosive stories of the year, and it might not be over with quite yet, even as some of the bears, like Dr.
Micron Technology (NASDAQ:MU | MU Price Prediction) has become the memory trade of the AI era.
Artificial intelligence has transformed the semiconductor industry into a game of bottlenecks.
Shares dip after Sandisk and Western Digital fail to deliver the sort of knockout guidance investors are used to.